Quinn Opportunity Partners LLC Boosts Holdings in Adverum Biotechnologies, Inc. (NASDAQ:ADVM)

Quinn Opportunity Partners LLC boosted its stake in Adverum Biotechnologies, Inc. (NASDAQ:ADVMGet Rating) by 102.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 503,004 shares of the biotechnology company’s stock after acquiring an additional 255,000 shares during the period. Quinn Opportunity Partners LLC owned 0.51% of Adverum Biotechnologies worth $885,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ADVM. Millennium Management LLC bought a new stake in shares of Adverum Biotechnologies in the 2nd quarter worth approximately $40,000. OLD Mission Capital LLC bought a new stake in shares of Adverum Biotechnologies in the 3rd quarter worth approximately $164,000. Metropolitan Life Insurance Co NY bought a new stake in shares of Adverum Biotechnologies in the 1st quarter worth approximately $108,000. Jump Financial LLC raised its holdings in shares of Adverum Biotechnologies by 117.4% in the 3rd quarter. Jump Financial LLC now owns 26,600 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 14,362 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in shares of Adverum Biotechnologies by 26.2% in the 3rd quarter. Squarepoint Ops LLC now owns 33,825 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 7,018 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

ADVM opened at $0.89 on Friday. The company has a fifty day moving average price of $1.12 and a 200-day moving average price of $1.46. Adverum Biotechnologies, Inc. has a one year low of $0.80 and a one year high of $3.86.

Adverum Biotechnologies (NASDAQ:ADVMGet Rating) last released its quarterly earnings results on Thursday, May 12th. The biotechnology company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.07). Sell-side analysts forecast that Adverum Biotechnologies, Inc. will post -1.56 EPS for the current fiscal year.

A number of research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Adverum Biotechnologies in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Chardan Capital reiterated a “neutral” rating on shares of Adverum Biotechnologies in a research note on Monday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.20.

In other Adverum Biotechnologies news, CEO Laurent Fischer purchased 25,000 shares of the stock in a transaction on Wednesday, April 20th. The stock was acquired at an average cost of $1.11 per share, with a total value of $27,750.00. Following the completion of the purchase, the chief executive officer now directly owns 762,462 shares of the company’s stock, valued at approximately $846,332.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawn Svoronos purchased 30,000 shares of the stock in a transaction on Monday, May 16th. The stock was acquired at an average cost of $0.85 per share, with a total value of $25,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $42,500. The disclosure for this purchase can be found here. Insiders have bought a total of 116,925 shares of company stock valued at $111,945 over the last ninety days. 4.20% of the stock is currently owned by insiders.

About Adverum Biotechnologies (Get Rating)

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, develops gene therapy product candidates to treat ocular and rare diseases. Its lead product candidate is ADVM-022, a single intravitreal injection gene therapy candidate used for the treatment of patients with chronic retinal, including wet age-related macular degeneration and diabetic macular edema.

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Institutional Ownership by Quarter for Adverum Biotechnologies (NASDAQ:ADVM)

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