Equities research analysts forecast that Adverum Biotechnologies Inc (NASDAQ:ADVM) will report sales of $480,000.00 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Adverum Biotechnologies’ earnings, with estimates ranging from $460,000.00 to $500,000.00. Adverum Biotechnologies posted sales of $830,000.00 during the same quarter last year, which suggests a negative year over year growth rate of 42.2%. The company is scheduled to report its next quarterly earnings report on Thursday, November 14th.
On average, analysts expect that Adverum Biotechnologies will report full-year sales of $960,000.00 for the current year, with estimates ranging from $920,000.00 to $1.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $1.42 million, with estimates ranging from $1.00 million to $1.84 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Adverum Biotechnologies.
Adverum Biotechnologies (NASDAQ:ADVM) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.08. Adverum Biotechnologies had a negative return on equity of 31.21% and a negative net margin of 4,505.40%.
A number of institutional investors and hedge funds have recently modified their holdings of ADVM. Bank of America Corp DE boosted its stake in shares of Adverum Biotechnologies by 185.8% in the 4th quarter. Bank of America Corp DE now owns 40,501 shares of the biotechnology company’s stock valued at $128,000 after purchasing an additional 26,330 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Adverum Biotechnologies by 94.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,504 shares of the biotechnology company’s stock worth $86,000 after acquiring an additional 8,038 shares during the last quarter. SG Americas Securities LLC acquired a new position in Adverum Biotechnologies during the 1st quarter worth approximately $60,000. JPMorgan Chase & Co. boosted its position in Adverum Biotechnologies by 12.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,297,793 shares of the biotechnology company’s stock worth $17,281,000 after acquiring an additional 371,461 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Adverum Biotechnologies during the 1st quarter worth approximately $150,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.
Adverum Biotechnologies stock traded up $0.04 during mid-day trading on Wednesday, reaching $5.82. The stock had a trading volume of 37,990 shares, compared to its average volume of 2,392,147. The company has a debt-to-equity ratio of 0.12, a quick ratio of 17.79 and a current ratio of 17.79. Adverum Biotechnologies has a fifty-two week low of $2.62 and a fifty-two week high of $16.38. The stock’s 50-day simple moving average is $11.75 and its 200-day simple moving average is $9.24. The firm has a market capitalization of $384.18 million, a PE ratio of -4.94 and a beta of 2.49.
Adverum Biotechnologies Company Profile
Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates to treat ocular and rare diseases. Its pipeline of product candidates includes ADVM-022, an adeno- associated virus (AAV). 7m8-aflibercept for the treatment of wet age-related macular degeneration; ADVM-043, an investigational gene therapy candidate for the treatment of alpha-1 antitrypsin deficiency; and ADVM-053, a preclinical gene therapy product candidate for the treatment of hereditary angioedema.
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