Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Free Report) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,360,000 shares, a drop of 11.1% from the November 15th total of 1,530,000 shares. Approximately 11.1% of the company’s shares are short sold. Based on an average daily trading volume, of 221,300 shares, the short-interest ratio is presently 6.1 days.
Adverum Biotechnologies Stock Performance
NASDAQ ADVM opened at $5.37 on Friday. Adverum Biotechnologies has a one year low of $5.36 and a one year high of $29.70. The company has a market capitalization of $111.70 million, a price-to-earnings ratio of -0.90 and a beta of 0.91. The company’s 50-day simple moving average is $7.11 and its two-hundred day simple moving average is $7.21.
Adverum Biotechnologies (NASDAQ:ADVM – Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.10). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.50 million. Equities analysts expect that Adverum Biotechnologies will post -4.92 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
ADVM has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their price objective on shares of Adverum Biotechnologies from $12.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Adverum Biotechnologies in a research note on Tuesday, November 19th. Finally, StockNews.com raised Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Adverum Biotechnologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.83.
Get Our Latest Stock Report on Adverum Biotechnologies
Adverum Biotechnologies Company Profile
Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.
Featured Articles
- Five stocks we like better than Adverum Biotechnologies
- What is a Dividend King?
- Why Hershey Stock Has More Room to Run Despite Takeover Rejection
- Why Are Stock Sectors Important to Successful Investing?
- Texas Instruments: The Old-School Tech Titan Still Delivering
- What Are Dividends? Buy the Best Dividend Stocks
- GRAIL: Biotech Stock Targeting $100B Cancer Market
Receive News & Ratings for Adverum Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adverum Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.