Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Get Free Report) major shareholder Braden Michael Leonard bought 50,000 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were acquired at an average price of $2.98 per share, with a total value of $149,000.00. Following the transaction, the insider now directly owns 191,800 shares of the company's stock, valued at $571,564. This represents a 35.26 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 Wednesday, April 2nd, Braden Michael Leonard purchased 15,209 shares of Adverum Biotechnologies stock. The stock was acquired at an average price of $4.04 per share, with a total value of $61,444.36.
- On Monday, March 31st, Braden Michael Leonard bought 19,566 shares of Adverum Biotechnologies stock. The stock was bought at an average cost of $4.38 per share, for a total transaction of $85,699.08.
- On Wednesday, March 26th, Braden Michael Leonard bought 20,407 shares of Adverum Biotechnologies stock. The shares were bought at an average cost of $5.04 per share, with a total value of $102,851.28.
- On Thursday, March 20th, Braden Michael Leonard purchased 30,600 shares of Adverum Biotechnologies stock. The stock was bought at an average price of $5.61 per share, for a total transaction of $171,666.00.
- On Tuesday, March 18th, Braden Michael Leonard acquired 62,341 shares of Adverum Biotechnologies stock. The shares were purchased at an average price of $4.69 per share, with a total value of $292,379.29.
Adverum Biotechnologies Stock Performance
Shares of Adverum Biotechnologies stock opened at $2.97 on Friday. The stock has a market cap of $62.05 million, a price-to-earnings ratio of -0.50 and a beta of 1.10. The stock has a 50 day moving average price of $4.09 and a 200-day moving average price of $5.26. Adverum Biotechnologies, Inc. has a one year low of $2.72 and a one year high of $10.98.
Adverum Biotechnologies (NASDAQ:ADVM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The biotechnology company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.34) by ($0.62). Sell-side analysts predict that Adverum Biotechnologies, Inc. will post -4.92 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on ADVM. Chardan Capital dropped their price target on Adverum Biotechnologies from $40.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada lowered their target price on Adverum Biotechnologies from $10.00 to $5.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 16th. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Adverum Biotechnologies in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $25.83.
Check Out Our Latest Report on ADVM
Hedge Funds Weigh In On Adverum Biotechnologies
A number of large investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in Adverum Biotechnologies by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 12,240 shares of the biotechnology company's stock worth $57,000 after purchasing an additional 2,659 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Adverum Biotechnologies by 36.6% in the fourth quarter. American Century Companies Inc. now owns 16,277 shares of the biotechnology company's stock worth $76,000 after buying an additional 4,362 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Adverum Biotechnologies by 226.6% during the 4th quarter. JPMorgan Chase & Co. now owns 30,664 shares of the biotechnology company's stock worth $143,000 after acquiring an additional 21,274 shares during the last quarter. Corton Capital Inc. bought a new stake in shares of Adverum Biotechnologies during the 4th quarter worth approximately $153,000. Finally, Barclays PLC boosted its holdings in Adverum Biotechnologies by 125.8% during the 3rd quarter. Barclays PLC now owns 35,832 shares of the biotechnology company's stock valued at $252,000 after acquiring an additional 19,965 shares during the period. 48.17% of the stock is owned by hedge funds and other institutional investors.
About Adverum Biotechnologies
(
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.
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