Adverum Biotechnologies (NASDAQ:ADVM) Research Coverage Started at StockNews.com

Analysts at StockNews.com began coverage on shares of Adverum Biotechnologies (NASDAQ:ADVM – Get Rating) in a research note issued on Thursday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Separately, LADENBURG THALM/SH SH started coverage on Adverum Biotechnologies in a report on Tuesday, March 7th. They set a “buy” rating and a $2.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Adverum Biotechnologies currently has an average rating of “Hold” and an average price target of $2.75.

Adverum Biotechnologies Stock Down 11.4 %

Adverum Biotechnologies stock opened at $0.75 on Thursday. The firm has a market cap of $74.90 million, a price-to-earnings ratio of -0.48 and a beta of 0.77. Adverum Biotechnologies has a 52 week low of $0.53 and a 52 week high of $1.82. The business’s 50-day moving average price is $0.70 and its 200 day moving average price is $0.78.

Insider Buying and Selling at Adverum Biotechnologies

In other Adverum Biotechnologies news, CEO Laurent Fischer sold 41,239 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $0.78, for a total value of $32,166.42. Following the sale, the chief executive officer now directly owns 692,141 shares of the company’s stock, valued at $539,869.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 61,898 shares of company stock valued at $48,280. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Adverum Biotechnologies

A number of institutional investors have recently made changes to their positions in the company. BML Capital Management LLC acquired a new stake in shares of Adverum Biotechnologies in the fourth quarter worth approximately $4,095,000. Bank of America Corp DE boosted its stake in shares of Adverum Biotechnologies by 55,529.7% in the fourth quarter. Bank of America Corp DE now owns 5,591,896 shares of the biotechnology company’s stock worth $3,238,000 after acquiring an additional 5,581,844 shares during the last quarter. Sonic GP LLC acquired a new stake in shares of Adverum Biotechnologies in the fourth quarter worth approximately $2,638,000. Renaissance Technologies LLC boosted its stake in shares of Adverum Biotechnologies by 2.3% in the third quarter. Renaissance Technologies LLC now owns 1,118,441 shares of the biotechnology company’s stock worth $1,063,000 after acquiring an additional 25,400 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Adverum Biotechnologies in the second quarter worth approximately $1,246,000. 63.68% of the stock is owned by institutional investors and hedge funds.

About Adverum Biotechnologies

(Get Rating)

Adverum Biotechnologies, Inc is a clinical-stage gene therapy company that engages in the development of gene therapies for ocular and rare diseases. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr., Mitchell H. Finer, and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Redwood City, CA.