BML Capital Management LLC boosted its stake in Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Free Report) by 20.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,742,317 shares of the biotechnology company's stock after purchasing an additional 474,253 shares during the period. Adverum Biotechnologies comprises 9.2% of BML Capital Management LLC's investment portfolio, making the stock its 4th largest position. BML Capital Management LLC owned 13.13% of Adverum Biotechnologies worth $11,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the stock. Principia Wealth Advisory LLC increased its stake in shares of Adverum Biotechnologies by 27.5% during the first quarter. Principia Wealth Advisory LLC now owns 1,696,815 shares of the biotechnology company's stock valued at $7,415,000 after buying an additional 366,155 shares during the period. Geode Capital Management LLC increased its stake in shares of Adverum Biotechnologies by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 442,490 shares of the biotechnology company's stock valued at $2,067,000 after buying an additional 3,434 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Adverum Biotechnologies by 50.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 311,005 shares of the biotechnology company's stock valued at $1,452,000 after buying an additional 104,262 shares during the period. Grant GrossMendelsohn LLC increased its stake in shares of Adverum Biotechnologies by 90.3% during the first quarter. Grant GrossMendelsohn LLC now owns 160,157 shares of the biotechnology company's stock valued at $700,000 after buying an additional 75,984 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Adverum Biotechnologies by 249.6% during the fourth quarter. Renaissance Technologies LLC now owns 129,605 shares of the biotechnology company's stock valued at $605,000 after buying an additional 92,533 shares during the period. 48.17% of the stock is owned by hedge funds and other institutional investors.
Adverum Biotechnologies Stock Down 1.1%
NASDAQ ADVM opened at $2.67 on Friday. Adverum Biotechnologies, Inc. has a twelve month low of $1.78 and a twelve month high of $8.58. The firm has a market capitalization of $55.78 million, a PE ratio of -0.42 and a beta of 0.70. The stock's 50 day moving average is $2.46 and its 200 day moving average is $3.47.
Wall Street Analysts Forecast Growth
ADVM has been the topic of several research analyst reports. Mizuho reduced their target price on Adverum Biotechnologies from $16.00 to $12.00 and set an "outperform" rating on the stock in a research note on Thursday, June 26th. Royal Bank Of Canada dropped their price target on Adverum Biotechnologies from $5.00 to $4.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. HC Wainwright restated a "buy" rating and set a $30.00 price target on shares of Adverum Biotechnologies in a research report on Thursday, May 15th. Finally, Chardan Capital restated a "buy" rating and set a $33.00 price target on shares of Adverum Biotechnologies in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Adverum Biotechnologies presently has an average rating of "Moderate Buy" and a consensus target price of $23.80.
View Our Latest Stock Analysis on ADVM
About Adverum Biotechnologies
(
Free Report)
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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