Zacks Investment Research downgraded Adverum Biotechnologies Inc (NASDAQ:ADVM) to Hold in a report released today.
- Updated: October 11, 2016
Yesterday Adverum Biotechnologies Inc (NASDAQ:ADVM) traded -4.55% lower at $3.99. The company’s 50-day moving average is $3.95 and its two hundred day average is $4.19. With the last stock price close down -4.70% relative to the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Trading volume was down over the average, with 109,933 shares of ADVM changing hands under the typical 275,034
Zacks Investment Research has downgraded Adverum Biotechnologies Inc (NASDAQ:ADVM) to Hold in a report released on Tuesday October 11, 2016.
Previously on 08/17/2016, Zacks Investment Research reported on Adverum Biotechnologies Inc (NASDAQ:ADVM) raised the target price from $0.00 to $5.00. At the time, this indicated a possible upside of 0.18%.
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Adverum Biotechnologies Inc has a 52 week low of $2.99 and a 52 week high of $10.69 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its stock price target, a total of 3 brokers have issued a research note on the company. The average stock price target is $9.50 with 1 broker rating the stock a strong buy, 2 brokerages rating the stock a buy, 0 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
Brief Synopsis On Adverum Biotechnologies Inc (NASDAQ:ADVM)
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. It focuses on diseases with unmet medical need, including ophthalmic diseases, such as wet age-related macular degeneration (AMD), as well as rare genetic diseases. The Company's product candidates include AVA-101 and AVA-201 for treatment of Wet AMD; AVA-322 and AVA-323 for the treatment of Color Vision Deficiency, and AVA-311 for the treatment of Juvenile X-linked Retinoschisis. It has generated human proof-of-concept data for AVA-101 in a Phase I trial with over eight wet AMD subjects conducted at Lions Eye Institute (LEI) in Australia. It is developing AVA-322 and AVA-323 for the treatment of color vision deficiency (CVD).
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