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

Adverum Biotechnologies Inc [NASDAQ: ADVM] plunged by -$0.1 during the normal trading session on while it closed the day at $2.00. The company report on February 12, 2024 at 8:00 AM that Adverum Biotechnologies to Participate in the Oppenheimer 34th Annual Healthcare Life Sciences Conference.

The on-demand webcast corporate presentation may be accessed under Events and Presentations in the Investors section of Adverum’s website. A replay of the webcast will be available on the website for at least 30 days following the presentation.

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Adverum Biotechnologies Inc stock has also gained 1.52% of its value over the past 7 days. However, ADVM stock has inclined by 132.26% in the 3 months of the year. Over the past six months meanwhile, it has gained 16.96% and gained 165.67% year-on date.

The market cap for ADVM stock reached $202.06 million, with 100.12 million shares outstanding and 77.13 million shares in the current float. Compared to the average trading volume of 1.50M shares, ADVM reached a trading volume of 5471954 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $4.20 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 0.32, with the Price to Sales ratio for ADVM stock in the period of the last 12 months amounting to 56.13. The Price to Book ratio for the last quarter was 1.97, with the Price to Cash per share for the same quarter was set at 1.16.

ADVM stock trade performance evaluation

Adverum Biotechnologies Inc [ADVM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.52. With this latest performance, ADVM shares gained by 149.88% in over the last four-week period, additionally plugging by 16.96% over the last 6 months – not to mention a rise of 219.64% 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 59.39, with the RSI for the last a single of trading hit 57.08, and the three-weeks RSI is set at 60.23 for Adverum Biotechnologies Inc [ADVM]. The present Moving Average for the last 50 days of trading for this stock 1.11, while it was recorded at 2.02 for the last single week of trading, and 1.30 for the last 200 days.

Adverum Biotechnologies Inc [ADVM]: An insightful look at the core 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 per share (EPS) analysis for Adverum Biotechnologies Inc [ADVM] stock

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.

Adverum Biotechnologies Inc [ADVM]: Institutional Ownership

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%.