Adverum Biotechnologies, Inc. (NASDAQ:ADVM) has a beta value of 1.78 and has seen 748,743 shares traded in the last trading session. The company, currently valued at $1.2 Billion, closed the last trade at $12.33 per share which meant it gained $0.27 on the day or 2.24% during that session. The ADVM stock price is -118.82% off its 52-week high price of $26.98 and 47.12% above the 52-week low of $6.52. If we look at the company’s 10-day average daily trading volume, we find that it stood at 813.77 Million shares traded. The 3-month trading volume is 1.32 Million shares.
The consensus among analysts is that Adverum Biotechnologies, Inc. (ADVM) is a Buy stock at the moment, with a recommendation rating of 2.1. 1 analysts rate the stock as a Sell, while none rate it as Overweight. None out of 9 have rated it as a Hold, with 8 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.34.
Adverum Biotechnologies, Inc. (NASDAQ:ADVM) trade information
Sporting 2.24% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Oct 16 when the ADVM stock price touched $12.58- or saw a rise of 1.99%. Year-to-date, Adverum Biotechnologies, Inc. shares have moved 7.03%, while the 5-day performance has seen it change 10.68%. Over the past 30 days, the shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) have changed -4.05%. Short interest in the company has seen 12.4 Million shares shorted with days to cover at 9.39.
Wall Street analysts have a consensus price target for the stock at $28.43, which means that the shares’ value could jump 130.58% from current levels. The projected low price target is $21 while the price target rests at a high of $36. In that case, then, we find that the current price level is +191.97% off the targeted high while a plunge would see the stock lose 70.32% from current levels.
Adverum Biotechnologies, Inc. (ADVM) estimates and forecasts
Figures show that Adverum Biotechnologies, Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -12.3% over the past 6 months, with this year growth rate of 40.59%, compared to 14% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -36% and -31% for the next quarter. Revenue growth from the last financial year stood is estimated to be -56%.
7 analysts offering their estimates for the company have set an average revenue estimate of $70Million for the current quarter. 7 have an estimated revenue figure of $70Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $250Million for this quarter, and analysts expect sales will grow by -72% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +16.4% over the past 5 years. Earnings growth for 2020 is a modest +15%.
Adverum Biotechnologies, Inc. (NASDAQ:ADVM)’s Major holders
Insiders own 3.34% of the company shares, while shares held by institutions stand at 80.01% with a share float percentage of 82.78%. Investors are also buoyed by the number of investors in a company, with Adverum Biotechnologies, Inc. having a total of 170 institutions that hold shares in the company. The top two institutional holders are RA Capital Management, L.P. with over 7.8 Million shares worth more than $162.9 Million. As of June 29, 2020, RA Capital Management, L.P. held 9.67% of shares outstanding.
The other major institutional holder is Avoro Capital Advisors LLC, with the holding of over 7.59 Million shares as of June 29, 2020. The firm’s total holdings are worth over $158.37 Million and represent 9.4% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. As of September 29, 2020, the former fund manager holds about 4.86% shares in the company for having 3921758 shares of worth $40.39 Million while later fund manager owns 2.07 Million shares of worth $43.24 Million as of June 29, 2020, which makes it owner of about 2.57% of company’s outstanding stock.