During the last session, Adverum Biotechnologies Inc. (NASDAQ:ADVM)’s traded shares were 0.33 million, with the beta value of the company hitting 1.10. At the end of the trading day, the stock’s price was $1.61, reflecting an intraday gain of 6.62% or $0.1. The 52-week high for the ADVM share is $2.59, that puts it down -60.87 from that peak though still a striking 50.31% gain since the share price plummeted to a 52-week low of $0.80. The company’s market capitalization is $175.33M, and the average intraday trading volume over the past 10 days was 0.4 million shares, and the average trade volume was 1.39 million shares over the past three months.
Adverum Biotechnologies Inc. (ADVM) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.50. ADVM has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.34.
Adverum Biotechnologies Inc. (NASDAQ:ADVM) trade information
Adverum Biotechnologies Inc. (ADVM) registered a 6.62% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.62% in intraday trading to $1.61 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 10.27%, and it has moved by 15.00% in 30 days. Based on these gigs, the overall price performance for the year is -33.20%. The short interest in Adverum Biotechnologies Inc. (NASDAQ:ADVM) is 3.53 million shares and it means that shorts have 1.48 day(s) to cover.
The consensus price target of analysts on Wall Street is $4.33, which implies an increase of 62.82% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.00 and $6.00 respectively. As a result, ADVM is trading at a discount of -272.67% off the target high and -86.34% off the low.
Adverum Biotechnologies Inc. (ADVM) estimates and forecasts
Statistics show that Adverum Biotechnologies Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Adverum Biotechnologies Inc. (ADVM) shares have gone up 7.33% during the last six months, with a year-to-date growth rate less than the industry average at -5.41% against 1.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 24.40% this quarter and then jump 7.70% in the quarter after that.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 13.90%. While earnings are projected to return -7.60% in 2022.
Adverum Biotechnologies Inc. is due to release its next quarterly earnings between August 15 and August 19. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Adverum Biotechnologies Inc. (NASDAQ:ADVM)’s Major holders
Adverum Biotechnologies Inc. insiders own 3.71% of total outstanding shares while institutional holders control 70.30%, with the float percentage being 73.00%. FMR, LLC is the largest shareholder of the company, while 132 institutions own stock in it. As of Mar 30, 2022, the company held over 10.87 million shares (or 11.01% of all shares), a total value of $17.51 million in shares.
The next largest institutional holding, with 7.32 million shares, is of Blackrock Inc.’s that is approximately 7.41% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $11.78 million.
Also, the Mutual Funds coming in first place with the largest holdings of Adverum Biotechnologies Inc. (ADVM) shares are Fidelity Select Portfolios – Biotechnology and iShares Russell 2000 ETF. Data provided on May 30, 2022 indicates that Fidelity Select Portfolios – Biotechnology owns about 10.6 million shares. This amounts to just over 10.73 percent of the company’s overall shares, with a $17.06 million market value. The same data shows that the other fund manager holds slightly less at 1.89 million, or about 1.92% of the stock, which is worth about $3.05 million.