Adverum Biotechnologies (ADVM) to Release Quarterly Earnings on Thursday

Adverum Biotechnologies (NASDAQ:ADVM - Get Free Report) is expected to issue its Q4 2024 quarterly earnings data before the market opens on Thursday, May 8th. Analysts expect the company to announce earnings of ($1.34) per share for the quarter.

Adverum Biotechnologies (NASDAQ:ADVM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The biotechnology company reported ($1.96) earnings per share for the quarter, missing analysts' consensus estimates of ($1.34) by ($0.62). On average, analysts expect Adverum Biotechnologies to post $-5 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

Adverum Biotechnologies Trading Down 6.8 %

ADVM stock traded down $0.24 during trading on Tuesday, reaching $3.35. 372,354 shares of the stock were exchanged, compared to its average volume of 265,696. The company has a market capitalization of $69.90 million, a P/E ratio of -0.56 and a beta of 1.10. Adverum Biotechnologies has a twelve month low of $2.64 and a twelve month high of $10.84. The stock has a 50 day simple moving average of $3.98 and a 200-day simple moving average of $4.99.

Analyst Ratings Changes

ADVM has been the topic of several research reports. Royal Bank of Canada reduced their price objective on Adverum Biotechnologies from $10.00 to $5.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 16th. HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Adverum Biotechnologies in a research report on Wednesday, April 16th. Finally, Chardan Capital reduced their price objective on shares of Adverum Biotechnologies from $40.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.60.

Insider Buying and Selling at Adverum Biotechnologies

In related news, major shareholder Braden Michael Leonard bought 30,600 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $5.61 per share, with a total value of $171,666.00. Following the completion of the purchase, the insider now owns 2,722,761 shares in the company, valued at $15,274,689.21. This represents a 1.14 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders bought a total of 198,123 shares of company stock worth $863,040 over the last three months. Corporate insiders own 4.20% 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.