FY2025 Earnings Estimate for ADVM Issued By Chardan Capital

Key Points

• Chardan Capital lowered its FY2025 earnings per share estimate for Adverum Biotechnologies from ($6.63) to ($6.77) while maintaining a "Buy" rating and a price target of $33.00.
• Adverum reported a quarterly EPS of (2.34), missing the consensus estimate of (2.24) by (0.10).
• Institutional investors now own 48.17% of Adverum's stock, with several firms acquiring new stakes or increasing their holdings in the latest quarter.

Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Free Report) - Equities researchers at Chardan Capital cut their FY2025 earnings per share (EPS) estimates for Adverum Biotechnologies in a report issued on Wednesday, August 13th. Chardan Capital analyst D. Gataulin now forecasts that the biotechnology company will post earnings of ($6.77) per share for the year, down from their prior forecast of ($6.63). Chardan Capital currently has a "Buy" rating and a $33.00 target price on the stock. The consensus estimate for Adverum Biotechnologies' current full-year earnings is ($4.92) per share. Chardan Capital also issued estimates for Adverum Biotechnologies' FY2026 earnings at ($2.24) EPS.

Several other brokerages have also recently issued reports on ADVM. Mizuho dropped their target price on Adverum Biotechnologies from $16.00 to $12.00 and set an "outperform" rating for the company in a report on Thursday, June 26th. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of Adverum Biotechnologies in a report on Thursday, May 15th. Finally, Royal Bank Of Canada dropped their target price on Adverum Biotechnologies from $5.00 to $4.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Adverum Biotechnologies presently has an average rating of "Moderate Buy" and an average target price of $19.75.

Adverum Biotechnologies Trading Up 6.1%

NASDAQ:ADVM traded up $0.17 during trading hours on Monday, hitting $2.95. The company had a trading volume of 24,733 shares, compared to its average volume of 245,264. The company has a 50-day moving average of $2.52 and a 200 day moving average of $3.23. The company has a market cap of $61.90 million, a P/E ratio of -0.37 and a beta of 0.77. Adverum Biotechnologies has a 1 year low of $1.78 and a 1 year high of $8.56.

Adverum Biotechnologies (NASDAQ:ADVM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($2.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.24) by ($0.10).

Institutional Trading of Adverum Biotechnologies

A number of large investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Adverum Biotechnologies during the second quarter worth approximately $153,000. Qube Research & Technologies Ltd purchased a new stake in shares of Adverum Biotechnologies during the second quarter worth approximately $66,000. Marshall Wace LLP purchased a new stake in shares of Adverum Biotechnologies during the second quarter worth approximately $107,000. XTX Topco Ltd purchased a new stake in shares of Adverum Biotechnologies during the second quarter worth approximately $64,000. Finally, BML Capital Management LLC increased its stake in shares of Adverum Biotechnologies by 11.5% during the second quarter. BML Capital Management LLC now owns 3,057,526 shares of the biotechnology company's stock worth $6,574,000 after buying an additional 315,209 shares during the period. 48.17% of the stock is currently owned by hedge funds and other institutional investors.

Adverum Biotechnologies Company Profile

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.