Sunday, June 26, 2022

Chief Development Officer Seyedkazemi Setareh acquire 20,000 shares of Adverum Biotechnologies Inc. [ADVM]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Adverum Biotechnologies Inc. shares valued at $16,800 were purchased by Seyedkazemi Setareh on May 23. At $0.84 per share, Seyedkazemi Setareh acquired 20,000 shares. The insider’s holdings grew to 20,600 shares worth approximately $22248.0 following the completion of this transaction.

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Also, Beckman Richard purchased 10,000 shares, netting a total of over 8,228 in proceeds. Following the buying of shares at $0.82 each, the insider now holds 10,000 shares.

Before that, D’Souza Rupert had added 10,000 shares to its account. In a trade valued at $8,272, the Chief Financial Officer bought Adverum Biotechnologies Inc. shares for $0.83 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $22518.0.

As published in a research note from Cantor Fitzgerald on July 23, 2021, Adverum Biotechnologies Inc. [ADVM] has been rated down from an Overweight to a Neutral. Analysts at SVB Leerink downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early May. As of April 29, 2021, Truist has decreased its “Buy” rating to a “Hold” for ADVM. Earlier on April 29, 2021, RBC Capital Mkts downgraded its rating. Their new recommendation was “a Sector perform” for ADVM stock which previously was a “an Outperform”.

Analyzing ADVM’s Price Performance

On Thursday, Adverum Biotechnologies Inc. [NASDAQ: ADVM] rose 1.89% to $1.08. The stock’s lowest price that day was $1.02, but it reached a high of $1.08 in the same session. During the last five days, there has been a surge of approximately 11.28%. Over the course of the year, Adverum Biotechnologies Inc. shares have dropped approximately -38.64%. Shares of the company reached a 52-week high of $2.0400 on 01/03/22 and a 52-week low of $0.7954 on 05/16/22. A 50-day SMA is recorded $1.0084, while a 200-day SMA reached $1.5821. Nevertheless, trading volume fell to 1.38 million shares from 1.26 million shares the previous day.

Support And Resistance Levels for Adverum Biotechnologies Inc. (ADVM)

According to the 24-hour chart, there is a support level at 1.0400, which, if violated, would cause prices to drop to 1.0000. In the upper region, resistance lies at 1.1000. The next price resistance is at 1.1200. RSI (Relative Strength Index) is 60.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0398, which suggests the price will decrease in the coming days. Percent R is at 13.64%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Adverum Biotechnologies Inc. subject to short interest?

Stocks of Adverum Biotechnologies Inc. saw a sharp rise in short interest on May 30, 2022 jumping by 0.66 million shares to 5.68 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 5.02 million shares. A jump of 11.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.12.

Which companies own the most shares of Adverum Biotechnologies Inc. (ADVM)?

According to Fidelity Management & Research Co filings, the company currently owns 10,873,853 shares, which is about 11.01% of the total ADVM shares outstanding. The investor’s shares have appreciated by 10,872,683 from its previous 13-F filing of 1170.0 shares. With the completion of the sale transaction, Avoro Capital Advisor LLC’s stake is now worth $6,234,150. Lawrence Kam reduced a 0.00% interest valued at $5.88 million while BlackRock Fund Advisors sold a -9,964 stake. A total of 4,950,000 shares of Adverum Biotechnologies Inc. were sold by BML Capital Management LLC during the quarter, and -692,634 were sold by The Vanguard Group, Inc. In its current portfolio, Invus Public Equities Advisors LL holds 3,000,000 shares valued at $2.69 million.

In terms of Adverum Biotechnologies Inc. share price expectations, FactSet research, analysts set an average price target of $4.00 in the next 12 months, up nearly 183.02% from the previous closing price of $1.06. Analysts anticipate Adverum Biotechnologies Inc. stock to reach $6.00 by 2022, with the lowest price target being $3.00. In spite of this, 4 analysts ranked Adverum Biotechnologies Inc. stock as a Hold at the end of 2022. On April 29, 2021, Chardan Capital Markets assigned a price target of “a Neutral” to the stock and downgraded coverage with a $5.

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