Adverum Biotechnologies (NASDAQ:ADVM) CEO Buys $47,000.40 in Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) CEO Laurent Fischer purchased 11,085 shares of Adverum Biotechnologies stock in a transaction that occurred on Friday, December 5th. The shares were bought at an average cost of $4.24 per share, with a total value of $47,000.40. Following the completion of the transaction, the chief executive officer directly owned 83,899 shares of the company’s stock, valued at approximately $355,731.76. The trade was a 15.22% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Laurent Fischer also recently made the following trade(s):

• On Monday, December 8th, Laurent Fischer purchased 117,614 shares of Adverum Biotechnologies stock. The shares were bought at an average cost of $4.31 per share, for a total transaction of $506,916.34.

Adverum Biotechnologies Trading Up 2.3%

Shares of Adverum Biotechnologies stock traded up $0.10 on Monday, reaching $4.36. 987,543 shares of the company were exchanged, compared to its average volume of 447,123. The company has a market capitalization of $96.26 million, a price-to-earnings ratio of -0.51 and a beta of 0.87. Adverum Biotechnologies, Inc. has a one year low of $1.78 and a one year high of $6.12. The company has a 50-day moving average of $4.41 and a 200 day moving average of $3.35.

Adverum Biotechnologies (NASDAQ:ADVM) last issued its earnings results on Wednesday, November 12th. The biotechnology company reported ($2.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.23). Analysts predict that Adverum Biotechnologies, Inc. will post -4.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ADVM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adverum Biotechnologies in a report on Wednesday, October 8th. HC Wainwright restated a “neutral” rating and issued a $5.00 price objective (down previously from $30.00) on shares of Adverum Biotechnologies in a research note on Monday, November 17th. Royal Bank Of Canada set a $4.00 price objective on Adverum Biotechnologies in a research report on Tuesday, October 28th. Truist Financial set a $5.00 target price on Adverum Biotechnologies in a research note on Friday, October 24th. Finally, Chardan Capital cut Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Adverum Biotechnologies has a consensus rating of “Hold” and an average price target of $10.50.

Institutional Investors Weigh In On Adverum Biotechnologies

A number of institutional investors have recently made changes to their positions in ADVM. Pale Fire Capital SE grew its position in shares of Adverum Biotechnologies by 16.9% in the first quarter. Pale Fire Capital SE now owns 368,267 shares of the biotechnology company’s stock valued at $1,609,000 after purchasing an additional 53,113 shares during the last quarter. BML Capital Management LLC lifted its holdings in Adverum Biotechnologies by 11.5% during the 2nd quarter. BML Capital Management LLC now owns 3,057,526 shares of the biotechnology company’s stock worth $6,574,000 after purchasing an additional 315,209 shares during the last quarter. Invesco Ltd. bought a new stake in Adverum Biotechnologies in the 1st quarter valued at $218,000. Y Intercept Hong Kong Ltd bought a new stake in Adverum Biotechnologies in the 2nd quarter valued at $45,000. Finally, Nuveen LLC acquired a new position in Adverum Biotechnologies in the 1st quarter valued at $139,000. Institutional investors own 48.17% of the company’s stock.

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.