Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Get Free Report) major shareholder Braden Michael Leonard acquired 15,209 shares of Adverum Biotechnologies stock in a transaction dated Wednesday, April 2nd. The stock was purchased at an average cost of $4.04 per share, with a total value of $61,444.36. Following the completion of the purchase, the insider now owns 2,757,526 shares of the company's stock, valued at approximately $11,140,405.04. This represents a 0.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Braden Michael Leonard also recently made the following trade(s):
- On Monday, March 31st, Braden Michael Leonard purchased 19,566 shares of Adverum Biotechnologies stock. The stock was acquired at an average price of $4.38 per share, with a total value of $85,699.08.
- On Wednesday, March 26th, Braden Michael Leonard acquired 20,407 shares of Adverum Biotechnologies stock. The stock was acquired at an average cost of $5.04 per share, with a total value of $102,851.28.
- On Thursday, March 20th, Braden Michael Leonard bought 30,600 shares of Adverum Biotechnologies stock. The shares were acquired at an average price of $5.61 per share, with a total value of $171,666.00.
- On Tuesday, March 18th, Braden Michael Leonard purchased 62,341 shares of Adverum Biotechnologies stock. The stock was acquired at an average price of $4.69 per share, with a total value of $292,379.29.
Adverum Biotechnologies Stock Up 11.2 %
Adverum Biotechnologies stock opened at $4.26 on Thursday. The company's 50-day moving average price is $4.48 and its 200-day moving average price is $5.71. The company has a market cap of $88.62 million, a PE ratio of -0.71 and a beta of 1.14. Adverum Biotechnologies, Inc. has a twelve month low of $3.52 and a twelve month high of $14.16.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Regeneron Pharmaceuticals Inc. bought a new position in Adverum Biotechnologies during the 4th quarter valued at about $845,000. Dimensional Fund Advisors LP boosted its position in shares of Adverum Biotechnologies by 50.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 311,005 shares of the biotechnology company's stock valued at $1,452,000 after buying an additional 104,262 shares during the period. Renaissance Technologies LLC grew its stake in shares of Adverum Biotechnologies by 249.6% during the fourth quarter. Renaissance Technologies LLC now owns 129,605 shares of the biotechnology company's stock valued at $605,000 after buying an additional 92,533 shares during the last quarter. State Street Corp raised its holdings in shares of Adverum Biotechnologies by 32.7% in the third quarter. State Street Corp now owns 369,616 shares of the biotechnology company's stock worth $2,595,000 after buying an additional 91,112 shares during the period. Finally, Trexquant Investment LP raised its holdings in shares of Adverum Biotechnologies by 167.9% in the fourth quarter. Trexquant Investment LP now owns 95,997 shares of the biotechnology company's stock worth $448,000 after buying an additional 60,163 shares during the period. 48.17% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com lowered Adverum Biotechnologies from a "hold" rating to a "sell" rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $27.83.
Check Out Our Latest Report on ADVM
Adverum Biotechnologies Company Profile
(
Get Free Report)
Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
