Barclays PLC Purchases 19,965 Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM)

Barclays PLC increased its position in Adverum Biotechnologies, Inc. (NASDAQ:ADVM) by 125.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,832 shares of the biotechnology company’s stock after purchasing an additional 19,965 shares during the quarter. Barclays PLC owned approximately 0.17% of Adverum Biotechnologies worth $252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in shares of Adverum Biotechnologies by 177.0% during the third quarter. BNP Paribas Financial Markets now owns 4,146 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 2,649 shares during the period. Captrust Financial Advisors acquired a new stake in Adverum Biotechnologies in the third quarter worth about $71,000. SG Americas Securities LLC acquired a new stake in Adverum Biotechnologies in the third quarter worth about $74,000. MetLife Investment Management LLC boosted its holdings in Adverum Biotechnologies by 129.1% during the third quarter. MetLife Investment Management LLC now owns 12,582 shares of the biotechnology company’s stock worth $88,000 after buying an additional 7,089 shares during the last quarter. Finally, Zacks Investment Management bought a new position in Adverum Biotechnologies during the third quarter worth about $89,000. 48.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Adverum Biotechnologies in a report on Tuesday, November 19th. StockNews.com cut Adverum Biotechnologies from a “hold” rating to a “sell” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada lowered their price target on Adverum Biotechnologies from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Adverum Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $27.83.

Adverum Biotechnologies Price Performance

Shares of NASDAQ ADVM opened at $5.01 on Monday. The stock’s fifty day moving average price is $6.20 and its two-hundred day moving average price is $6.92. Adverum Biotechnologies, Inc. has a one year low of $4.42 and a one year high of $29.70. The firm has a market cap of $104.22 million, a price-to-earnings ratio of -0.84 and a beta of 0.96.

Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Monday, November 4th. The biotechnology company reported ($1.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.10). The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.50 million. On average, equities analysts anticipate that Adverum Biotechnologies, Inc. will post -4.92 earnings per share for the current fiscal year.

Adverum Biotechnologies Profile

Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.