Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Rating) CEO Laurent Fischer sold 41,082 shares of the company in a trade on Monday, September 19. The shares were sold at an average price of $1.07, for a total value of $43,957.74. Following completion of the transaction, the CEO now owns 727,380 shares of the company, valued at approximately $778,296.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link.

Adverum Biotechnologies share performance

Adverum Biotechnologies stock traded at $0.03 midday Wednesday, hitting $1.05. 671,102 shares of the company were traded, against an average volume of 1,105,356. The company has a market capitalization of $103.71 million, a price-earnings ratio of -0.67 and a beta of 1.14. The company’s 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.21. Adverum Biotechnologies, Inc. has a 1-year minimum of $0.80 and a 1-year maximum of $2.52.

Adverum Biotechnologies (NASDAQ:ADVM – Get Rating) last released its quarterly earnings data on Thursday, August 11. The biotech company reported ($0.44) EPS for the quarter, missing analyst consensus estimates of ($0.38) by ($0.06). On average, analysts expect Adverum Biotechnologies, Inc. to post -1.5 EPS for the current fiscal year.

Changes to analyst ratings

A number of research analysts have weighed in on the company recently. StockNews.com upgraded Adverum Biotechnologies from a “hold” rating to a “sell” rating in a Wednesday, August 3 research report. Chardan Capital lowered its price target on Adverum Biotechnologies from $3.00 to $2.50 and set a “neutral” rating for the company in a Friday, August 12 research report. Finally, Truist Financial upgraded Adverum Biotechnologies from a “hold” rating to a “buy” rating and raised its price target for the stock from $3.00 to $4.00 in a Thursday research report. July 7.

Adverum Biotechnologies institutional trading

Several hedge funds and other institutional investors have recently increased or reduced their stake in ADVM. BNP Paribas Arbitrage SA increased its stake in Adverum Biotechnologies by 872.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 175,109 shares of the biotech company valued at $308,000 after purchasing an additional 157,093 shares during the period. Rafferty Asset Management LLC increased its stake in Adverum Biotechnologies by 47.9% in the fourth quarter. Rafferty Asset Management LLC now owns 49,107 shares of the biotech company valued at $86,000 after purchasing an additional 15,908 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Adverum Biotechnologies in the 4th quarter valued at approximately $919,000. Quinn Opportunity Partners LLC increased its stake in shares of Adverum Biotechnologies by 102.8% in the 4th quarter. Quinn Opportunity Partners LLC now owns 503,004 shares of the biotech company valued at $885,000 after buying an additional 255,000 shares last quarter. Finally, Assenagon Asset Management SA increased its stake in shares of Adverum Biotechnologies by 125.8% in the 1st quarter. Assenagon Asset Management SA now owns 992,729 shares of the biotech company valued at $1,300,000 after buying an additional 553,155 shares last quarter. Hedge funds and other institutional investors own 64.26% of the company’s shares.

About Adverum Biotechnologies

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Adverum Biotechnologies, Inc., a clinical-stage gene therapy company, is developing gene therapy product candidates to treat ocular and rare diseases. Its lead product candidate is ADVM-022, a unique intravitreal injection gene therapy candidate used for the treatment of patients with chronic retina, including wet age-related macular degeneration and diabetic macular edema.

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