Key Points
- Major shareholder Braden Michael Leonard sold 574,886 ADVM shares across Dec 1–3, including 300,000 on Dec 1 and 51,961 on Dec 2 at ~$4.20 and 222,925 on Dec 3 at ~$4.17, totaling about $2.41 million; his holding dropped 1.88% to 2,705,565 shares (~$11.36M).
- Company context and analyst outlook: Adverum (market cap ~$92.1M) recently missed quarterly EPS (-$2.03 vs -$1.80), trades between $1.78–$6.45 over 52 weeks, and carries a consensus "Hold" rating with an average price target of $10.50 amid mixed analyst opinions.
Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Get Free Report) major shareholder Braden Michael Leonard sold 51,961 shares of Adverum Biotechnologies stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $4.20, for a total value of $218,236.20. Following the sale, the insider directly owned 2,705,565 shares of the company's stock, valued at approximately $11,363,373. This represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Braden Michael Leonard also recently made the following trade(s):
- On Wednesday, December 3rd, Braden Michael Leonard sold 222,925 shares of Adverum Biotechnologies stock. The stock was sold at an average price of $4.17, for a total value of $929,597.25.
- On Monday, December 1st, Braden Michael Leonard sold 300,000 shares of Adverum Biotechnologies stock. The stock was sold at an average price of $4.20, for a total value of $1,260,000.00.
Adverum Biotechnologies Stock Up 0.2%
NASDAQ:ADVM opened at $4.17 on Thursday. The stock has a market capitalization of $92.06 million, a PE ratio of -0.49 and a beta of 0.87. The stock's 50-day moving average price is $4.42 and its 200-day moving average price is $3.30. Adverum Biotechnologies, Inc. has a 52 week low of $1.78 and a 52 week high of $6.45.
Adverum Biotechnologies (NASDAQ:ADVM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The biotechnology company reported ($2.03) earnings per share for the quarter, missing analysts' consensus estimates of ($1.80) by ($0.23). Sell-side analysts expect that Adverum Biotechnologies, Inc. will post -4.92 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on ADVM shares. Chardan Capital downgraded Adverum Biotechnologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 27th. Royal Bank Of Canada set a $4.00 price target on Adverum Biotechnologies in a report on Tuesday, October 28th. Mizuho set a $5.50 price objective on shares of Adverum Biotechnologies in a report on Wednesday, October 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adverum Biotechnologies in a report on Wednesday, October 8th. Finally, HC Wainwright restated a "neutral" rating and set a $5.00 target price (down previously from $30.00) on shares of Adverum Biotechnologies in a research note on Monday, November 17th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $10.50.
Get Our Latest Stock Report on ADVM
Hedge Funds Weigh In On Adverum Biotechnologies
Institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC purchased a new position in Adverum Biotechnologies during the third quarter worth about $58,000. Y Intercept Hong Kong Ltd acquired a new position in Adverum Biotechnologies during the second quarter worth about $45,000. XTX Topco Ltd purchased a new position in Adverum Biotechnologies in the second quarter valued at about $64,000. Qube Research & Technologies Ltd acquired a new stake in shares of Adverum Biotechnologies during the 2nd quarter valued at approximately $66,000. Finally, Nuveen LLC purchased a new stake in shares of Adverum Biotechnologies during the 1st quarter worth approximately $139,000. 48.17% of the stock is owned by institutional investors and hedge funds.
Adverum Biotechnologies Company Profile
(
Get Free Report)
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.
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