Adverum Biotechnologies Inc. [NASDAQ: ADVM] jumped around 0.07 points on Monday, while shares priced at $2.43 at the close of the session, up 2.97%. The company report on July 23, 2021 that Adverum Provides Update on ADVM-022 and the INFINITY Trial in Patients with Diabetic Macular Edema.
— Based on latest analyses, company is revising ADVM-022 development plan to focus on wet AMD and low doses (2 x 10^11 vg/eye and lower); no longer planning development for DME –.
— Company to host conference call and webcast at 1:30 pm PT / 4:30 pm ET –.
Adverum Biotechnologies Inc. stock is now -77.58% down from its year-to-date (YTD) trading value. ADVM Stock saw the intraday high of $2.505 and lowest of $2.26 per share. The company’s 52-week high price is 19.25, which means current price is +7.76% above from all time high which was touched on 01/20/21.
Compared to the average trading volume of 3.41M shares, ADVM reached a trading volume of 4586750 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Adverum Biotechnologies Inc. [ADVM]?
Cantor Fitzgerald have made an estimate for Adverum Biotechnologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 23, 2021. The new note on the price target was released on May 03, 2021, representing the official price target for Adverum Biotechnologies Inc. stock. Previously, the target price had yet another drop from $30 to $9, while Truist kept a Hold rating on ADVM stock.
The Average True Range (ATR) for Adverum Biotechnologies Inc. is set at 0.21, with the Price to Sales ratio for ADVM stock in the period of the last 12 months amounting to 41.14. The Price to Book ratio for the last quarter was 0.57, with the Price to Cash per share for the same quarter was set at 3.18.
How has ADVM stock performed recently?
Adverum Biotechnologies Inc. [ADVM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.91. With this latest performance, ADVM shares dropped by -35.03% in over the last four-week period, additionally sinking by -82.35% over the last 6 months – not to mention a drop of -85.88% 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 24.14, with the RSI for the last a single of trading hit 21.23, and the three-weeks RSI is set at 26.56 for Adverum Biotechnologies Inc. [ADVM]. The present Moving Average for the last 50 days of trading for this stock 3.44, while it was recorded at 2.82 for the last single week of trading, and 9.33 for the last 200 days.
Adverum Biotechnologies Inc. [ADVM]: Deeper insight into the fundamentals
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 20.60 and a Current Ratio set at 20.60.
Insider trade positions for Adverum Biotechnologies Inc. [ADVM]
There are presently around $235 million, or 98.50% 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 9,365,833, which is approximately -1.437% 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 $19.44 million in ADVM stocks shares; and RTW INVESTMENTS, LP, currently with $17.86 million in ADVM stock with ownership of nearly 1.683% of the company’s market capitalization.
Positions in Adverum Biotechnologies Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 58 institutional holders increased their position in Adverum Biotechnologies Inc. [NASDAQ:ADVM] by around 8,504,972 shares. Additionally, 75 investors decreased positions by around 5,803,537 shares, while 25 investors held positions by with 82,339,367 shares. The mentioned changes placed institutional holdings at 96,647,876 shares, according to the latest SEC report filing. ADVM stock had 13 new institutional investments in for a total of 2,215,780 shares, while 24 institutional investors sold positions of 1,377,000 shares during the same period.