Iguana Healthcare Management LLC Invests $700,000 in Adverum Biotechnologies Inc (ADVM)

Iguana Healthcare Management LLC purchased a new position in Adverum Biotechnologies Inc (NASDAQ:ADVM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 200,000 shares of the biotechnology company’s stock, valued at approximately $700,000.

Other large investors also recently bought and sold shares of the company. Jane Street Group LLC bought a new position in Adverum Biotechnologies during the third quarter worth about $108,000. BlueCrest Capital Management Ltd bought a new position in Adverum Biotechnologies during the fourth quarter worth about $111,000. Citadel Advisors LLC lifted its holdings in Adverum Biotechnologies by 365.1% during the fourth quarter. Citadel Advisors LLC now owns 47,189 shares of the biotechnology company’s stock worth $165,000 after acquiring an additional 37,042 shares in the last quarter. Raymond James & Associates bought a new position in Adverum Biotechnologies during the fourth quarter worth about $172,000. Finally, Russell Investments Group Ltd. bought a new position in Adverum Biotechnologies during the third quarter worth about $241,000. Institutional investors and hedge funds own 36.69% of the company’s stock.

How to Become a New Pot Stock Millionaire

ADVM has been the topic of several recent analyst reports. Piper Jaffray Companies initiated coverage on Adverum Biotechnologies in a report on Thursday, February 15th. They set an “overweight” rating and a $12.00 target price on the stock. Zacks Investment Research lowered Adverum Biotechnologies from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. ValuEngine upgraded Adverum Biotechnologies from a “strong sell” rating to a “sell” rating in a report on Thursday, January 25th. Chardan Capital reiterated a “hold” rating on shares of Adverum Biotechnologies in a report on Tuesday, December 19th. Finally, BidaskClub lowered Adverum Biotechnologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Adverum Biotechnologies presently has a consensus rating of “Hold” and an average price target of $7.31.

Shares of Adverum Biotechnologies Inc (NASDAQ:ADVM) opened at $6.55 on Tuesday. Adverum Biotechnologies Inc has a 12 month low of $2.40 and a 12 month high of $8.59. The stock has a market capitalization of $377.33, a PE ratio of -5.08 and a beta of 3.63.

Adverum Biotechnologies (NASDAQ:ADVM) last released its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.03. Adverum Biotechnologies had a negative return on equity of 29.61% and a negative net margin of 3,036.61%. The firm had revenue of $0.46 million for the quarter. equities research analysts anticipate that Adverum Biotechnologies Inc will post -1.31 earnings per share for the current year.

WARNING: “Iguana Healthcare Management LLC Invests $700,000 in Adverum Biotechnologies Inc (ADVM)” was posted by Stock Observer and is the property of of Stock Observer. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.thestockobserver.com/2018/03/20/iguana-healthcare-management-llc-invests-700000-in-adverum-biotechnologies-inc-advm.html.

About Adverum Biotechnologies

Adverum Biotechnologies, Inc is a clinical-stage gene therapy company targeting unmet medical needs in serious rare and ocular diseases. Adverum has a robust pipeline that includes product candidates designed to treat rare diseases alpha-1 antitrypsin (A1AT) deficiency and hereditary angioedema (HAE) as well as wet age-related macular degeneration (wAMD).

Want to see what other hedge funds are holding ADVM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adverum Biotechnologies Inc (NASDAQ:ADVM).

Institutional Ownership by Quarter for Adverum Biotechnologies (NASDAQ:ADVM)

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.

Leave a Reply