JPMorgan Chase & Co. boosted its position in Adverum Biotechnologies Inc (NASDAQ:ADVM) by 41.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,009 shares of the biotechnology company’s stock after buying an additional 30,254 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.24% of Adverum Biotechnologies worth $355,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Adverum Biotechnologies in the 3rd quarter valued at $241,000. Susquehanna International Group LLP acquired a new position in Adverum Biotechnologies in the 2nd quarter valued at $162,000. Goldman Sachs Group Inc. acquired a new position in Adverum Biotechnologies in the 2nd quarter valued at $420,000. OxFORD Asset Management LLP grew its stake in Adverum Biotechnologies by 719.0% in the 2nd quarter. OxFORD Asset Management LLP now owns 229,669 shares of the biotechnology company’s stock valued at $574,000 after buying an additional 201,628 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Adverum Biotechnologies by 179.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 304,741 shares of the biotechnology company’s stock valued at $762,000 after buying an additional 195,620 shares during the last quarter. Institutional investors and hedge funds own 30.14% of the company’s stock.
Shares of Adverum Biotechnologies Inc (ADVM) opened at $4.65 on Thursday. The stock has a market cap of $209.44, a price-to-earnings ratio of -3.10 and a beta of 2.44. Adverum Biotechnologies Inc has a 12-month low of $2.40 and a 12-month high of $4.65.
Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.03). The company had revenue of $0.46 million during the quarter. Adverum Biotechnologies had a negative return on equity of 26.60% and a negative net margin of 3,398.29%. equities research analysts forecast that Adverum Biotechnologies Inc will post -1.31 EPS for the current year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine upgraded shares of Adverum Biotechnologies from a “strong sell” rating to a “sell” rating in a research note on Monday, October 16th. Raymond James Financial assumed coverage on shares of Adverum Biotechnologies in a research note on Thursday, October 12th. They issued an “outperform” rating and a $6.00 target price on the stock. Finally, Chardan Capital reiterated a “hold” rating on shares of Adverum Biotechnologies in a research note on Tuesday, December 19th.
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Adverum Biotechnologies 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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