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

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position 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 buying an additional 2,649 shares during the period. Renaissance Technologies LLC boosted its position in Adverum Biotechnologies by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 136,257 shares of the biotechnology company’s stock valued at $935,000 after acquiring an additional 3,169 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Adverum Biotechnologies by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,582 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 7,089 shares during the period. Captrust Financial Advisors bought a new position in shares of Adverum Biotechnologies in the 3rd quarter worth approximately $71,000. Finally, SG Americas Securities LLC purchased a new position in shares of Adverum Biotechnologies in the 3rd quarter valued at approximately $74,000. 48.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Adverum Biotechnologies Stock Performance

NASDAQ ADVM opened at $4.33 on Tuesday. The company has a market capitalization of $90.06 million, a price-to-earnings ratio of -0.72 and a beta of 0.96. The stock has a 50-day moving average of $5.54 and a 200 day moving average of $6.75. Adverum Biotechnologies, Inc. has a one year low of $4.01 and a one year high of $29.70.

Adverum Biotechnologies (NASDAQ:ADVM) last released its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($1.30) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.10). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, equities analysts predict 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.