Adverum Biotechnologies Inc. [ADVM] stock Downgrade by Truist analyst, price target now $9

Adverum Biotechnologies Inc. [NASDAQ: ADVM] loss -62.30% on the last trading session, reaching $3.83 price per share at the time. The company report on April 29, 2021 that The Sonic Fund II, L.P. Comments on Adverum Biotechnologies Update Regarding INFINITY Phase 2 Trial of ADVM-022.

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Believes It Is Critical That Adverum Immediately Re-Evaluate Scientific Development Process and Strategy.

Adverum’s Announcement Provides Stark Evidence that Improved Board and Increased Oversight is Desperately Needed at Company.

Adverum Biotechnologies Inc. represents 97.60 million in outstanding shares, while the company has a total market value of $377.45 million with the latest information. ADVM stock price has been found in the range of $3.78 to $4.46.

If compared to the average trading volume of 806.18K shares, ADVM reached a trading volume of 38874877 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Adverum Biotechnologies Inc. [ADVM]:

Truist have made an estimate for Adverum Biotechnologies Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 29, 2021. The new note on the price target was released on April 29, 2021, representing the official price target for Adverum Biotechnologies Inc. stock. Previously, the target price had yet another raise to $5, while Chardan Capital Markets analysts kept a Neutral rating on ADVM stock.

The Average True Range (ATR) for Adverum Biotechnologies Inc. is set at 1.02 The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 4.36.

Trading performance analysis for ADVM stock

Adverum Biotechnologies Inc. [ADVM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -59.94. With this latest performance, ADVM shares dropped by -59.47% in over the last four-week period, additionally sinking by -68.56% over the last 6 months – not to mention a drop of -70.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ADVM stock in for the last two-week period is set at 20.48, with the RSI for the last a single of trading hit 15.73, and the three-weeks RSI is set at 24.56 for Adverum Biotechnologies Inc. [ADVM]. The present Moving Average for the last 50 days of trading for this stock 10.40, while it was recorded at 8.66 for the last single week of trading, and 12.42 for the last 200 days.

Adverum Biotechnologies Inc. [ADVM]: A deeper dive into fundamental analysis

Return on Total Capital for ADVM is now -35.08, given the latest momentum, and Return on Invested Capital for the company is -35.40. Return on Equity for this stock declined to -38.57, with Return on Assets sitting at -33.32. When it comes to the capital structure of this company, Adverum Biotechnologies Inc. [ADVM] has a Total Debt to Total Equity ratio set at 7.08. Additionally, ADVM Total Debt to Total Capital is recorded at 6.61, with Total Debt to Total Assets ending up at 6.37. Long-Term Debt to Equity for the company is recorded at 6.05, with the Long-Term Debt to Total Capital now at 5.65.

Reflecting on the efficiency of the workforce at the company, Adverum Biotechnologies Inc. [ADVM] managed to generate an average of -$703,635 per employee.Adverum Biotechnologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 20.80 and a Current Ratio set at 20.80.

Adverum Biotechnologies Inc. [ADVM]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Adverum Biotechnologies Inc. posted -0.31/share EPS, while the average EPS was predicted by analysts to be reported at -0.27/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ADVM.

An analysis of insider ownership at Adverum Biotechnologies Inc. [ADVM]

There are presently around $361 million, or 98.80% of ADVM stock, in the hands of institutional investors. The top three institutional holders of ADVM stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 9,502,383, which is approximately 0.973% of the company’s market cap and around 0.30% of the total institutional ownership; AVORO CAPITAL ADVISORS LLC, holding 8,000,000 shares of the stock with an approximate value of $30.64 million in ADVM stocks shares; and RTW INVESTMENTS, LP, currently with $27.68 million in ADVM stock with ownership of nearly -0.102% of the company’s market capitalization.

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Positions in Adverum Biotechnologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 79 institutional holders increased their position in Adverum Biotechnologies Inc. [NASDAQ:ADVM] by around 9,629,104 shares. Additionally, 77 investors decreased positions by around 10,215,411 shares, while 25 investors held positions by with 74,486,863 shares. The mentioned changes placed institutional holdings at 94,331,378 shares, according to the latest SEC report filing. ADVM stock had 24 new institutional investments in for a total of 1,116,344 shares, while 28 institutional investors sold positions of 3,072,477 shares during the same period.

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