-$0.35 EPS Expected for Adverum Biotechnologies, Inc. (ADVM) This Quarter

Wall Street analysts expect Adverum Biotechnologies, Inc. (NASDAQ:ADVM) to announce earnings per share (EPS) of ($0.35) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Adverum Biotechnologies’ earnings, with estimates ranging from ($0.36) to ($0.33). Adverum Biotechnologies posted earnings of ($0.27) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 29.6%. The business is scheduled to announce its next quarterly earnings results on Monday, March 5th.

According to Zacks, analysts expect that Adverum Biotechnologies will report full year earnings of ($1.31) per share for the current year, with EPS estimates ranging from ($1.32) to ($1.30). For the next fiscal year, analysts expect that the company will post earnings of ($1.86) per share, with EPS estimates ranging from ($2.83) to ($1.25). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Adverum Biotechnologies.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.03). The firm had revenue of $0.46 million for the quarter. Adverum Biotechnologies had a negative return on equity of 26.60% and a negative net margin of 3,398.29%.

A number of equities analysts have issued reports on ADVM shares. Zacks Investment Research raised shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine downgraded shares of Adverum Biotechnologies from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Chardan Capital reaffirmed a “hold” rating and set a $3.50 price objective on shares of Adverum Biotechnologies in a report on Tuesday, September 5th. Finally, Raymond James Financial, Inc. started coverage on shares of Adverum Biotechnologies in a report on Thursday, October 12th. They set an “outperform” rating and a $6.00 price objective on the stock.

Large investors have recently modified their holdings of the stock. Virtu KCG Holdings LLC purchased a new position in shares of Adverum Biotechnologies in the 2nd quarter worth about $144,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Adverum Biotechnologies by 81.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 53,218 shares of the biotechnology company’s stock worth $144,000 after buying an additional 23,898 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Adverum Biotechnologies in the 2nd quarter worth about $162,000. Russell Investments Group Ltd. purchased a new position in shares of Adverum Biotechnologies in the 3rd quarter worth about $241,000. Finally, LMR Partners LLP purchased a new position in shares of Adverum Biotechnologies in the 2nd quarter worth about $244,000. 30.14% of the stock is currently owned by institutional investors.

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Adverum Biotechnologies (ADVM) traded up $0.15 on Friday, reaching $3.00. 234,400 shares of the company’s stock were exchanged, compared to its average volume of 252,210. Adverum Biotechnologies has a 1 year low of $2.40 and a 1 year high of $4.20.

Adverum Biotechnologies Company Profile

Adverum Biotechnologies, Inc, formerly Avalanche Biotechnologies, Inc, is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics.

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