-$0.35 Earnings Per Share Expected for Adverum Biotechnologies Inc (ADVM) This Quarter

Brokerages predict that Adverum Biotechnologies Inc (NASDAQ:ADVM) will announce earnings of ($0.35) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Adverum Biotechnologies’ earnings, with the highest EPS estimate coming in at ($0.33) and the lowest estimate coming in at ($0.36). Adverum Biotechnologies posted earnings per share of ($0.27) in the same quarter last year, which suggests a negative year over year growth rate of 29.6%. The business is expected to announce its next quarterly earnings results on Monday, March 5th.

On average, analysts expect that Adverum Biotechnologies will report full-year earnings of ($1.31) per share for the current financial year, with EPS estimates ranging from ($1.32) to ($1.30). For the next fiscal year, analysts anticipate that the company will post earnings of ($1.86) per share, with EPS estimates ranging from ($2.83) to ($1.25). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Adverum Biotechnologies.

Adverum Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.03). Adverum Biotechnologies had a negative return on equity of 26.60% and a negative net margin of 3,398.29%. The firm had revenue of $0.46 million for the quarter.

Several analysts recently commented on the company. ValuEngine upgraded Adverum Biotechnologies from a “strong sell” rating to a “sell” rating in a research report on Monday, October 16th. Raymond James Financial assumed coverage on Adverum Biotechnologies in a research report on Thursday, October 12th. They set an “outperform” rating and a $6.00 price target for the company. Zacks Investment Research cut Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Chardan Capital reissued a “hold” rating on shares of Adverum Biotechnologies in a research note on Tuesday, December 19th.

Shares of Adverum Biotechnologies (NASDAQ:ADVM) traded up $0.65 on Wednesday, hitting $4.30. The company had a trading volume of 1,531,664 shares, compared to its average volume of 1,663,300. Adverum Biotechnologies has a 52-week low of $2.40 and a 52-week high of $4.35. The stock has a market capitalization of $193.68, a PE ratio of -2.87 and a beta of 2.44.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Adverum Biotechnologies during the third quarter worth $108,000. Virtu KCG Holdings LLC acquired a new position in Adverum Biotechnologies during the second quarter worth $144,000. Susquehanna International Group LLP acquired a new position in Adverum Biotechnologies during the second quarter worth $162,000. Russell Investments Group Ltd. acquired a new position in Adverum Biotechnologies during the third quarter worth $241,000. Finally, JPMorgan Chase & Co. boosted its stake in Adverum Biotechnologies by 41.6% during the third quarter. JPMorgan Chase & Co. now owns 103,009 shares of the biotechnology company’s stock worth $355,000 after buying an additional 30,254 shares during the last quarter. 30.14% of the stock is currently owned by institutional investors.

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About Adverum Biotechnologies

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.

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