Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Free Report) – Equities research analysts at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for shares of Adverum Biotechnologies in a report issued on Tuesday, April 30th. HC Wainwright analyst M. Caufield anticipates that the biotechnology company will post earnings of ($1.23) per share for the quarter. HC Wainwright has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for Adverum Biotechnologies’ current full-year earnings is ($5.18) per share. HC Wainwright also issued estimates for Adverum Biotechnologies’ Q2 2024 earnings at ($1.27) EPS, Q3 2024 earnings at ($1.31) EPS, Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($5.17) EPS, FY2025 earnings at ($5.75) EPS, FY2026 earnings at ($6.46) EPS, FY2027 earnings at ($7.05) EPS and FY2028 earnings at ($5.14) EPS.
Adverum Biotechnologies (NASDAQ:ADVM – Get Free Report) last issued its quarterly earnings data on Monday, March 18th. The biotechnology company reported ($2.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.80) by $0.50.
Adverum Biotechnologies Price Performance
Shares of ADVM opened at $9.79 on Thursday. The company has a market capitalization of $203.14 million, a PE ratio of -0.84 and a beta of 0.84. Adverum Biotechnologies has a one year low of $7.21 and a one year high of $29.70. The company’s fifty day moving average price is $14.78 and its 200 day moving average price is $12.05.
Insider Activity
In other news, Director James Paul Scopa purchased 10,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was purchased at an average price of $13.50 per share, with a total value of $135,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $135,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 5.30% of the stock is owned by company insiders.
Institutional Investors Weigh In On Adverum Biotechnologies
A number of institutional investors have recently bought and sold shares of ADVM. Assenagon Asset Management S.A. bought a new position in shares of Adverum Biotechnologies during the 1st quarter worth about $5,072,000. Vivo Capital LLC bought a new position in Adverum Biotechnologies during the first quarter worth about $21,210,000. Twin Focus Capital Partners LLC bought a new position in Adverum Biotechnologies during the fourth quarter worth about $75,000. AIGH Capital Management LLC boosted its holdings in Adverum Biotechnologies by 139.6% during the fourth quarter. AIGH Capital Management LLC now owns 3,172,819 shares of the biotechnology company’s stock valued at $2,388,000 after purchasing an additional 1,848,834 shares in the last quarter. Finally, Worth Venture Partners LLC grew its stake in shares of Adverum Biotechnologies by 136.5% in the 4th quarter. Worth Venture Partners LLC now owns 784,346 shares of the biotechnology company’s stock valued at $590,000 after purchasing an additional 452,678 shares during the period. Institutional investors and hedge funds own 48.17% of the company’s stock.
About Adverum Biotechnologies
Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.
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