Adverum Biotechnologies Inc [NASDAQ: ADVM] closed the trading session at $1.65. The company report on March 18, 2024 at 4:05 PM that Adverum Biotechnologies Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Pipeline Highlights and Corporate Updates.
– Preliminary LUNA data presented at the Annual Meeting of the Macula Society support potential best-in-class clinical activity and an encouraging safety profile in patients with wet AMD -.
– Completed $127.5 million private placement financing with new and existing institutional investors -.
The stocks have a year to date performance of 119.18 percent and weekly performance of -8.84 percent. The stock has been moved at 7.14 percent over the last six months. The stock has performed -18.72 percent around the most recent 30 days and changed 102.45 percent over the most recent 3-months.
If compared to the average trading volume of 2.10M shares, ADVM reached to a volume of 4086745 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 $4.00 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 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 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 0.20, with the Price to Sales ratio for ADVM stock in the period of the last 12 months amounting to 94.95. The Price to Book ratio for the last quarter was 2.01, with the Price to Cash per share for the same quarter was set at 0.47.
ADVM stock trade performance evaluation
Adverum Biotechnologies Inc [ADVM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.84. With this latest performance, ADVM shares dropped by -18.72% in over the last four-week period, additionally plugging by 7.14% over the last 6 months – not to mention a rise of 119.71% 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 43.70, with the RSI for the last a single of trading hit 35.40, and the three-weeks RSI is set at 48.34 for Adverum Biotechnologies Inc [ADVM]. The present Moving Average for the last 50 days of trading for this stock 1.5797, while it was recorded at 1.7300 for the last single week of trading, and 1.4126 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 4.13 and a Current Ratio set at 4.13.
Earnings per share (EPS) analysis for Adverum Biotechnologies Inc [ADVM] stock
With the latest financial reports released by the company, Adverum Biotechnologies Inc posted -0.29/share EPS, while the average EPS was predicted by analysts to be reported at -0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.40%. 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%.
