Wall Street analysts forecast that Adverum Biotechnologies, Inc. (NASDAQ:ADVM) will post earnings of ($0.36) per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Adverum Biotechnologies’ earnings. Adverum Biotechnologies posted earnings per share of ($0.27) in the same quarter last year, which would indicate a negative year over year growth rate of 33.3%. The business is expected to report its next quarterly earnings report on Monday, March 5th.
On average, analysts expect that Adverum Biotechnologies will report full year earnings of ($1.31) per share for the current financial year, with EPS estimates ranging from ($1.32) to ($1.30). For the next financial year, analysts expect that the company will report earnings of ($1.86) per share, with EPS estimates ranging from ($2.83) to ($1.25). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Adverum Biotechnologies.
Adverum Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.03). The company had revenue of $0.46 million for the quarter. Adverum Biotechnologies had a negative return on equity of 26.60% and a negative net margin of 3,398.29%.
Several brokerages have recently weighed in on ADVM. ValuEngine lowered shares of Adverum Biotechnologies from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research upgraded shares of Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Wednesday, August 16th. Chardan Capital reiterated a “hold” rating and set a $3.50 price objective on shares of Adverum Biotechnologies in a report on Tuesday, September 5th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Adverum Biotechnologies in a report on Thursday, October 12th. They set an “outperform” rating and a $6.00 price objective on the stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ADVM. Virtu KCG Holdings LLC acquired a new stake in Adverum Biotechnologies during the 2nd quarter worth approximately $144,000. Parametric Portfolio Associates LLC grew its position in Adverum Biotechnologies by 81.5% in the first quarter. Parametric Portfolio Associates LLC now owns 53,218 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 23,898 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Adverum Biotechnologies in the second quarter valued at approximately $162,000. Russell Investments Group Ltd. acquired a new stake in Adverum Biotechnologies in the third quarter valued at approximately $241,000. Finally, LMR Partners LLP acquired a new stake in Adverum Biotechnologies in the second quarter valued at approximately $244,000. 30.11% of the stock is owned by hedge funds and other institutional investors.
Shares of Adverum Biotechnologies (ADVM) traded down $0.10 during mid-day trading on Friday, hitting $2.85. 348,600 shares of the stock traded hands, compared to its average volume of 252,291. Adverum Biotechnologies has a 1-year low of $2.40 and a 1-year high of $4.20.
Adverum Biotechnologies Company Profile
Adverum Biotechnologies, Inc, formerly Avalanche Biotechnologies, Inc, is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics.
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