Adverum Biotechnologies (NASDAQ:ADVM) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Adverum Biotechnologies (NASDAQ:ADVM) in a research report released on Thursday morning,Benzinga reports. They currently have a $30.00 target price on the biotechnology company’s stock. HC Wainwright also issued estimates for Adverum Biotechnologies’ Q3 2025 earnings at ($1.19) EPS and Q4 2025 earnings at ($1.17) EPS.

ADVM has been the topic of a number of other research reports. Royal Bank of Canada dropped their target price on Adverum Biotechnologies from $10.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 16th. Chardan Capital dropped their target price on Adverum Biotechnologies from $40.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Adverum Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.40.

Adverum Biotechnologies Trading Up 3.4%

NASDAQ ADVM opened at $2.12 on Thursday. The stock’s 50-day moving average price is $3.64 and its two-hundred day moving average price is $4.68. The company has a market cap of $44.29 million, a PE ratio of -0.35 and a beta of 1.03. Adverum Biotechnologies has a 1 year low of $1.78 and a 1 year high of $10.14.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings data on Tuesday, April 15th. The biotechnology company reported ($1.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.34) by ($0.62). Research analysts forecast that Adverum Biotechnologies will post -4.92 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Braden Michael Leonard acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were purchased at an average price of $2.98 per share, for a total transaction of $149,000.00. Following the completion of the acquisition, the insider now owns 191,800 shares of the company’s stock, valued at approximately $571,564. This represents a 35.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have acquired 198,123 shares of company stock worth $863,040 and have sold 13,010 shares worth $26,020. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adverum Biotechnologies

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in Adverum Biotechnologies by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 12,240 shares of the biotechnology company’s stock worth $57,000 after buying an additional 2,659 shares during the last quarter. American Century Companies Inc. increased its holdings in Adverum Biotechnologies by 36.6% in the fourth quarter. American Century Companies Inc. now owns 16,277 shares of the biotechnology company’s stock worth $76,000 after buying an additional 4,362 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Adverum Biotechnologies by 226.6% in the fourth quarter. JPMorgan Chase & Co. now owns 30,664 shares of the biotechnology company’s stock worth $143,000 after buying an additional 21,274 shares during the last quarter. Nuveen LLC acquired a new position in Adverum Biotechnologies in the first quarter worth approximately $139,000. Finally, Corton Capital Inc. acquired a new position in Adverum Biotechnologies in the fourth quarter worth approximately $153,000. Institutional investors and hedge funds own 48.17% of the company’s stock.

Adverum Biotechnologies Company Profile

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.