Equities research analysts predict that Adverum Biotechnologies Inc (NASDAQ:ADVM) will announce earnings per share of ($0.31) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Adverum Biotechnologies’ earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.37). Adverum Biotechnologies reported earnings of ($0.38) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.4%. The company is expected to report its next earnings results on Tuesday, May 8th.
On average, analysts expect that Adverum Biotechnologies will report full year earnings of ($1.33) per share for the current financial year, with EPS estimates ranging from ($1.53) to ($1.13). For the next year, analysts expect that the company will report earnings of ($1.25) per share, with EPS estimates ranging from ($1.32) to ($1.20). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Adverum Biotechnologies.
Adverum Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings data on Tuesday, March 6th. The biotechnology company reported ($0.32) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.03. Adverum Biotechnologies had a negative net margin of 3,036.61% and a negative return on equity of 29.61%. The firm had revenue of $0.46 million during the quarter.
Adverum Biotechnologies (NASDAQ:ADVM) traded up $0.20 during trading hours on Monday, reaching $6.90. 1,115,850 shares of the company were exchanged, compared to its average volume of 1,651,034. Adverum Biotechnologies has a 52 week low of $2.40 and a 52 week high of $8.59. The company has a market cap of $351.12, a price-to-earnings ratio of -5.33 and a beta of 3.63.
A number of large investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its position in Adverum Biotechnologies by 23.5% during the 2nd quarter. California Public Employees Retirement System now owns 145,600 shares of the biotechnology company’s stock valued at $364,000 after purchasing an additional 27,700 shares during the period. Dimensional Fund Advisors LP increased its position in Adverum Biotechnologies by 179.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 304,741 shares of the biotechnology company’s stock valued at $762,000 after purchasing an additional 195,620 shares during the period. Goldman Sachs Group Inc. purchased a new position in Adverum Biotechnologies during the 2nd quarter valued at $420,000. Russell Investments Group Ltd. purchased a new position in Adverum Biotechnologies during the 3rd quarter valued at $241,000. Finally, JPMorgan Chase & Co. increased its position in Adverum Biotechnologies by 41.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 103,009 shares of the biotechnology company’s stock valued at $355,000 after purchasing an additional 30,254 shares during the period. Institutional investors own 36.69% of the company’s stock.
About Adverum Biotechnologies
Adverum Biotechnologies, Inc is a clinical-stage gene therapy company targeting unmet medical needs in serious rare and ocular diseases. Adverum has a robust pipeline that includes product candidates designed to treat rare diseases alpha-1 antitrypsin (A1AT) deficiency and hereditary angioedema (HAE) as well as wet age-related macular degeneration (wAMD).
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