Mangrove Partners lifted its position in shares of Adverum Biotechnologies Inc (NASDAQ:ADVM) by 2.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 424,538 shares of the biotechnology company’s stock after purchasing an additional 10,700 shares during the quarter. Adverum Biotechnologies accounts for about 0.2% of Mangrove Partners’ holdings, making the stock its 28th largest holding. Mangrove Partners’ holdings in Adverum Biotechnologies were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Adverum Biotechnologies by 41.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 103,009 shares of the biotechnology company’s stock valued at $355,000 after buying an additional 30,254 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Adverum Biotechnologies during the 2nd quarter valued at about $420,000. San Francisco Sentry Investment Group CA purchased a new position in shares of Adverum Biotechnologies during the 4th quarter valued at about $1,680,000. Sessa Capital IM L.P. raised its holdings in shares of Adverum Biotechnologies by 272.5% during the 3rd quarter. Sessa Capital IM L.P. now owns 638,712 shares of the biotechnology company’s stock valued at $2,331,000 after buying an additional 467,225 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Adverum Biotechnologies by 77.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 540,097 shares of the biotechnology company’s stock worth $1,971,000 after acquiring an additional 235,356 shares during the last quarter. 36.69% of the stock is currently owned by institutional investors.
Adverum Biotechnologies Inc (NASDAQ ADVM) opened at $6.70 on Friday. Adverum Biotechnologies Inc has a 1 year low of $2.40 and a 1 year high of $8.59.
ADVM has been the topic of several recent research reports. ValuEngine upgraded Adverum Biotechnologies from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Piper Jaffray Companies initiated coverage on Adverum Biotechnologies in a research report on Thursday, February 15th. They set an “overweight” rating and a $12.00 price target on the stock. BidaskClub lowered Adverum Biotechnologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Chardan Capital restated a “hold” rating on shares of Adverum Biotechnologies in a research report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.06.
Adverum Biotechnologies Profile
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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