Barclays PLC Purchases 19,965 Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM)

Barclays PLC lifted its holdings in Adverum Biotechnologies, Inc. (NASDAQ:ADVM) by 125.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,832 shares of the biotechnology company’s stock after purchasing an additional 19,965 shares during the period. Barclays PLC’s holdings in Adverum Biotechnologies were worth $252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BML Capital Management LLC raised its position in Adverum Biotechnologies by 15.4% in the third quarter. BML Capital Management LLC now owns 2,268,064 shares of the biotechnology company’s stock worth $15,922,000 after acquiring an additional 302,064 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Adverum Biotechnologies by 741.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 223,427 shares of the biotechnology company’s stock worth $1,533,000 after purchasing an additional 196,884 shares in the last quarter. State Street Corp raised its holdings in Adverum Biotechnologies by 32.7% in the 3rd quarter. State Street Corp now owns 369,616 shares of the biotechnology company’s stock worth $2,595,000 after purchasing an additional 91,112 shares during the period. Squarepoint Ops LLC lifted its position in Adverum Biotechnologies by 301.1% during the second quarter. Squarepoint Ops LLC now owns 108,978 shares of the biotechnology company’s stock valued at $748,000 after purchasing an additional 81,808 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Adverum Biotechnologies by 52.9% during the second quarter. Marshall Wace LLP now owns 204,619 shares of the biotechnology company’s stock valued at $1,404,000 after purchasing an additional 70,768 shares during the period. Hedge funds and other institutional investors own 48.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADVM. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Adverum Biotechnologies in a research note on Tuesday, November 19th. StockNews.com cut shares of Adverum Biotechnologies from a “hold” rating to a “sell” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada dropped their price target on shares of Adverum Biotechnologies from $12.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Adverum Biotechnologies presently has an average rating of “Moderate Buy” and an average target price of $27.83.

Adverum Biotechnologies Trading Up 0.9 %

NASDAQ ADVM opened at $4.33 on Tuesday. Adverum Biotechnologies, Inc. has a 12 month low of $4.01 and a 12 month high of $29.70. The stock has a market cap of $90.06 million, a PE ratio of -0.72 and a beta of 0.96. The stock’s 50 day moving average is $5.54 and its 200 day moving average is $6.75.

Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Monday, November 4th. The biotechnology company reported ($1.30) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.10). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, analysts forecast that Adverum Biotechnologies, Inc. will post -4.92 EPS for the current fiscal year.

Adverum Biotechnologies 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.