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.
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.
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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).
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