Adverum Biotechnologies Inc [NASDAQ: ADVM] jumped around 0.49 points on Monday, while shares priced at $1.91 at the close of the session, up 34.51%. The company report on February 5, 2024 at 7:45 AM that Adverum Biotechnologies Announces $127.5 Million Private Placement Financing.
– Financing led by TCGX with participation from new and existing investors including 5AM Ventures, Commodore Capital, Frazier Life Sciences, Logos Capital, Samsara BioCapital, Venrock Healthcare Capital Partners and Vivo Capital, as well two large investment management firms.
– Pro forma cash and investments expected to fund current operating plan into late 2025.
Compared to the average trading volume of 494.40K shares, ADVM reached a trading volume of 24064470 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]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADVM shares is $3.80 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 1.33. 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 Average True Range (ATR) for Adverum Biotechnologies Inc is set at 0.14, with the Price to Sales ratio for ADVM stock in the period of the last 12 months amounting to 53.60. The Price to Book ratio for the last quarter was 1.88, with the Price to Cash per share for the same quarter was set at 1.16.
How has ADVM stock performed recently?
Adverum Biotechnologies Inc [ADVM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 78.50. With this latest performance, ADVM shares gained by 114.61% in over the last four-week period, additionally sinking by -5.91% over the last 6 months – not to mention a rise of 173.29% 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 90.12, with the RSI for the last a single of trading hit 94.66, and the three-weeks RSI is set at 84.71 for Adverum Biotechnologies Inc [ADVM]. The present Moving Average for the last 50 days of trading for this stock 0.8966, while it was recorded at 1.3260 for the last single week of trading, and 1.2486 for the last 200 days.
Adverum Biotechnologies Inc [ADVM]: Deeper insight into the fundamentals
Adverum Biotechnologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.32 and a Current Ratio set at 4.32.
Earnings analysis for Adverum Biotechnologies Inc [ADVM]
With the latest financial reports released by the company, Adverum Biotechnologies Inc posted -0.33/share EPS, while the average EPS was predicted by analysts to be reported at -0.36/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. 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.
Insider trade positions for Adverum Biotechnologies Inc [ADVM]
The top three institutional holders of ADVM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ADVM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ADVM stock with ownership which is approximately 5.8325%.
