Zacks: Analysts Anticipate Adverum Biotechnologies Inc (ADVM) to Announce -$0.35 Earnings Per Share

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

According to Zacks, analysts expect that Adverum Biotechnologies will report full-year earnings of ($1.31) per share for the current fiscal year, with EPS estimates ranging from ($1.32) to ($1.30). For the next fiscal year, analysts forecast that the firm will report earnings of ($1.38) per share, with EPS estimates ranging from ($1.50) to ($1.25). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Adverum Biotechnologies.

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

A number of analysts have recently issued reports on ADVM shares. Zacks Investment Research raised shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Chardan Capital reissued a “hold” rating on shares of Adverum Biotechnologies in a research note on Tuesday, December 19th. Raymond James Financial started coverage on shares of Adverum Biotechnologies in a research note on Thursday, October 12th. They set an “outperform” rating and a $6.00 target price for the company. Finally, ValuEngine raised shares of Adverum Biotechnologies from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 25th.

Several institutional investors and hedge funds have recently modified their holdings of ADVM. California Public Employees Retirement System lifted its stake in Adverum Biotechnologies by 23.5% in the second quarter. California Public Employees Retirement System now owns 145,600 shares of the biotechnology company’s stock worth $364,000 after acquiring an additional 27,700 shares during the period. Jane Street Group LLC purchased a new stake in Adverum Biotechnologies in the third quarter worth about $108,000. JPMorgan Chase & Co. lifted its stake in Adverum Biotechnologies by 41.6% in the third quarter. JPMorgan Chase & Co. now owns 103,009 shares of the biotechnology company’s stock worth $355,000 after acquiring an additional 30,254 shares during the period. Virtu KCG Holdings LLC purchased a new stake in Adverum Biotechnologies in the second quarter worth about $144,000. Finally, Susquehanna International Group LLP purchased a new stake in Adverum Biotechnologies in the second quarter worth about $162,000. 30.72% of the stock is owned by hedge funds and other institutional investors.

Shares of Adverum Biotechnologies (NASDAQ ADVM) traded down $0.50 on Tuesday, hitting $6.90. 1,622,173 shares of the stock were exchanged, compared to its average volume of 1,635,307. The stock has a market capitalization of $328.80, a price-to-earnings ratio of -4.57 and a beta of 3.80. Adverum Biotechnologies has a 1 year low of $2.40 and a 1 year high of $8.59.

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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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