Analysts expect Adverum Biotechnologies, Inc. (NASDAQ:ADVM) to report earnings of ($0.40) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Adverum Biotechnologies’ earnings, with estimates ranging from ($0.46) to ($0.32). Adverum Biotechnologies reported earnings of ($0.31) per share in the same quarter last year, which indicates a negative year over year growth rate of 29%. The firm is scheduled to report its next earnings report on Thursday, November 4th.
According to Zacks, analysts expect that Adverum Biotechnologies will report full year earnings of ($1.54) per share for the current year, with EPS estimates ranging from ($1.71) to ($1.24). For the next financial year, analysts anticipate that the company will post earnings of ($1.47) per share, with EPS estimates ranging from ($1.75) to ($1.15). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Adverum Biotechnologies.
Adverum Biotechnologies (NASDAQ:ADVM) last announced its earnings results on Wednesday, August 4th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.07).
Several hedge funds have recently modified their holdings of ADVM. Meeder Asset Management Inc. bought a new position in Adverum Biotechnologies in the 1st quarter valued at about $35,000. Millennium Management LLC bought a new position in Adverum Biotechnologies in the 2nd quarter valued at about $40,000. Nisa Investment Advisors LLC raised its holdings in Adverum Biotechnologies by 159.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,280 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 7,550 shares during the period. Lipe & Dalton bought a new position in Adverum Biotechnologies in the 2nd quarter valued at about $52,000. Finally, Squarepoint Ops LLC bought a new position in shares of Adverum Biotechnologies during the second quarter worth approximately $94,000. 80.69% of the stock is currently owned by institutional investors.
NASDAQ ADVM remained flat at $$2.17 on Friday. 17,868 shares of the company were exchanged, compared to its average volume of 1,901,456. The firm has a market cap of $212.93 million, a price-to-earnings ratio of -1.51 and a beta of 1.15. Adverum Biotechnologies has a 12-month low of $2.07 and a 12-month high of $14.79. The stock’s fifty day moving average price is $2.56 and its two-hundred day moving average price is $5.22.
Adverum Biotechnologies Company Profile
Adverum Biotechnologies, Inc is a clinical-stage gene therapy company that engages in the development of gene therapies for ocular and rare diseases. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr., Mitchell H. Finer, and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Redwood City, CA.
Featured Article: How does a reverse stock split work?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Adverum Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adverum Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.