Adverum Biotechnologies Inc. [ADVM] stock Upgrade by Truist analyst, price target now $4


Adverum Biotechnologies Inc. [NASDAQ: ADVM] gained 13.82% or 0.17 points to close at $1.40 with a heavy trading volume of 6124326 shares. The company report on July 6, 2022 that Adverum Biotechnologies Completes IND Amendment and Prepares to Initiate the Phase 2 LUNA Trial of ADVM-022 in Wet AMD.

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– Cash runway extended into 2025 due to corporate restructuring to prioritize the clinical development of ADVM-022 and provide additional resources beyond anticipated one-year topline results of the Phase 2 LUNA trial.

– LUNA trial will enroll up to 72 patients and examine two dose levels of ADVM-022 along with four new enhanced prophylactic steroid regimens.

It opened the trading session at $1.30, the shares rose to $1.44 and dropped to $1.30, the range by which the price of stock traded the whole day. The daily chart for ADVM points out that the company has recorded -22.65% loss over the past six months. However, it is still -75.0% lower than its most recent low trading price.

If we look at the average trading volume of 1.20M shares, ADVM reached to a volume of 6124326 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADVM shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ADVM stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Adverum Biotechnologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 07, 2022. The new note on the price target was released on July 23, 2021, representing the official price target for Adverum Biotechnologies Inc. stock. Previously, the target price had yet another raise to $5, while SVB Leerink analysts kept a Mkt Perform rating on ADVM stock. On April 29, 2021, analysts decreased their price target for ADVM shares from 30 to 9.

The Average True Range (ATR) for Adverum Biotechnologies Inc. is set at 0.09 The Price to Book ratio for the last quarter was 0.49, with the Price to Cash per share for the same quarter was set at 2.70.

Trading performance analysis for ADVM stock

Adverum Biotechnologies Inc. [ADVM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.64. With this latest performance, ADVM shares gained by 35.92% in over the last four-week period, additionally sinking by -22.65% over the last 6 months – not to mention a drop of -58.82% 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 77.73, with the RSI for the last a single of trading hit 84.30, and the three-weeks RSI is set at 71.21 for Adverum Biotechnologies Inc. [ADVM]. The present Moving Average for the last 50 days of trading for this stock 1.0136, while it was recorded at 1.2340 for the last single week of trading, and 1.5340 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Adverum Biotechnologies Inc. [ADVM] shares currently have an operating margin of -1934.12 and a Gross Margin at +38.07. Adverum Biotechnologies Inc.’s Net Margin is presently recorded at -1940.53.

Return on Equity for this stock declined to -38.78, with Return on Assets sitting at -31.56.

Adverum Biotechnologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.10 and a Current Ratio set at 12.10.

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

There are presently around $89 million, or 65.00% of ADVM stock, in the hands of institutional investors. The top three institutional holders of ADVM stocks are: FMR LLC with ownership of 10,873,853, which is approximately 929289.145% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 7,315,539 shares of the stock with an approximate value of $10.24 million in ADVM stocks shares; and AVORO CAPITAL ADVISORS LLC, currently with $9.73 million in ADVM stock with ownership of nearly 0% 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 22 institutional holders increased their position in Adverum Biotechnologies Inc. [NASDAQ:ADVM] by around 13,098,246 shares. Additionally, 57 investors decreased positions by around 15,438,516 shares, while 27 investors held positions by with 35,060,643 shares. The mentioned changes placed institutional holdings at 63,597,405 shares, according to the latest SEC report filing. ADVM stock had 9 new institutional investments in for a total of 418,813 shares, while 16 institutional investors sold positions of 1,854,756 shares during the same period.