BidaskClub downgraded shares of Adverum Biotechnologies (NASDAQ:ADVM) from a strong-buy rating to a buy rating in a research report report published on Saturday.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Adverum Biotechnologies from a sell rating to a hold rating in a research note on Tuesday, January 9th. Chardan Capital reissued a hold rating on shares of Adverum Biotechnologies in a research note on Tuesday, December 19th. Piper Jaffray Companies started coverage on shares of Adverum Biotechnologies in a research note on Thursday, February 15th. They issued an overweight rating and a $12.00 price target on the stock. Finally, ValuEngine raised shares of Adverum Biotechnologies from a strong sell rating to a sell rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $6.06.
Adverum Biotechnologies (NASDAQ:ADVM) opened at $6.90 on Friday. The firm has a market cap of $361.60, a PE ratio of -6.45 and a beta of 3.62. Adverum Biotechnologies has a fifty-two week low of $2.40 and a fifty-two week high of $8.59.
Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Adverum Biotechnologies by 41.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 103,009 shares of the biotechnology company’s stock valued at $355,000 after acquiring an additional 30,254 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Adverum Biotechnologies in the 2nd quarter valued at approximately $420,000. San Francisco Sentry Investment Group CA purchased a new stake in shares of Adverum Biotechnologies in the 4th quarter valued at approximately $1,680,000. Mangrove Partners purchased a new stake in shares of Adverum Biotechnologies in the 3rd quarter valued at approximately $1,511,000. Finally, Sessa Capital IM L.P. increased its stake in 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 worth $2,331,000 after buying an additional 467,225 shares during the period. 36.69% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This article was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this article on another site, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3258570/adverum-biotechnologies-advm-rating-lowered-to-buy-at-bidaskclub.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).
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.