Insider Selling: Adverum Biotechnologies Inc (NASDAQ:ADVM) Director Sells $150,700.00 in Stock

Adverum Biotechnologies Inc (NASDAQ:ADVM) Director Mehdi Gasmi sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $15.07, for a total transaction of $150,700.00. Following the completion of the sale, the director now directly owns 321,418 shares of the company’s stock, valued at approximately $4,843,769.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NASDAQ ADVM opened at $16.19 on Thursday. Adverum Biotechnologies Inc has a one year low of $3.52 and a one year high of $16.81. The company has a 50-day simple moving average of $11.82 and a 200-day simple moving average of $9.90. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.14.

Several equities research analysts have recently weighed in on the stock. SunTrust Banks boosted their target price on shares of Adverum Biotechnologies to in a research report on Tuesday, February 11th. Chardan Capital raised shares of Adverum Biotechnologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $10.00 to $20.00 in a report on Monday, February 10th. BidaskClub raised shares of Adverum Biotechnologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Cantor Fitzgerald raised shares of Adverum Biotechnologies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $21.00 in a report on Sunday, February 9th. Finally, ValuEngine raised shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $17.00.

Several hedge funds and other institutional investors have recently bought and sold shares of ADVM. Metropolitan Life Insurance Co NY acquired a new position in shares of Adverum Biotechnologies in the 1st quarter valued at about $108,000. Nuveen Asset Management LLC acquired a new position in Adverum Biotechnologies during the 2nd quarter valued at about $2,559,000. BB&T Securities LLC acquired a new position in Adverum Biotechnologies during the 3rd quarter valued at about $85,000. California Public Employees Retirement System boosted its stake in Adverum Biotechnologies by 167.5% during the 3rd quarter. California Public Employees Retirement System now owns 134,046 shares of the biotechnology company’s stock valued at $731,000 after purchasing an additional 83,939 shares during the period. Finally, Tibra Equities Europe Ltd acquired a new position in Adverum Biotechnologies during the 3rd quarter valued at about $265,000. 74.96% of the stock is owned by institutional investors and hedge funds.

About Adverum Biotechnologies

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates to treat ocular and rare diseases. Its pipeline of product candidates includes ADVM-022, an adeno- associated virus (AAV). 7m8-aflibercept for the treatment of wet age-related macular degeneration; ADVM-043, an investigational gene therapy candidate for the treatment of alpha-1 antitrypsin deficiency; and ADVM-053, a preclinical gene therapy product candidate for the treatment of hereditary angioedema.

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