Adverum Biotechnologies (NASDAQ:ADVM) Given New $4.00 Price Target at Mizuho

Adverum Biotechnologies (NASDAQ:ADVMFree Report) had its price target hoisted by Mizuho from $2.00 to $4.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Adverum Biotechnologies Stock Up 30.9 %

Adverum Biotechnologies stock opened at $2.50 on Tuesday. The business has a fifty day moving average of $0.93 and a two-hundred day moving average of $1.23. The firm has a market cap of $252.57 million, a P/E ratio of -1.98 and a beta of 0.71. Adverum Biotechnologies has a twelve month low of $0.61 and a twelve month high of $2.57.

Adverum Biotechnologies (NASDAQ:ADVMGet Free Report) last posted its earnings results on Thursday, November 9th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.03). Equities analysts expect that Adverum Biotechnologies will post -1.26 earnings per share for the current year.

Institutional Trading of Adverum Biotechnologies

Several hedge funds and other institutional investors have recently made changes to their positions in ADVM. Invesco Ltd. lifted its holdings in shares of Adverum Biotechnologies by 996.9% during the 1st quarter. Invesco Ltd. now owns 286,314 shares of the biotechnology company’s stock valued at $375,000 after purchasing an additional 260,211 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Adverum Biotechnologies during the 1st quarter valued at $32,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Adverum Biotechnologies by 426.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 40,967 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 33,190 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Adverum Biotechnologies by 175.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,093,041 shares of the biotechnology company’s stock valued at $1,312,000 after purchasing an additional 696,600 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Adverum Biotechnologies during the 2nd quarter valued at $1,246,000. Hedge funds and other institutional investors own 70.87% of the company’s stock.

Adverum Biotechnologies Company Profile

(Get Free Report)

Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular and rare diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with chronic retinal, including wet age-related macular degeneration and diabetic macular edema.

Further Reading

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