Home Insiders Updates Investing in Adverum Biotechnologies Inc. (ADVM) Is Getting More Attractive

Investing in Adverum Biotechnologies Inc. (ADVM) Is Getting More Attractive

Investing in Adverum Biotechnologies Inc. (ADVM) Is Getting More Attractive

Adverum Biotechnologies Inc.’s filing revealed that its Chief Medical Officer Beckman Richard unloaded Company’s shares for reported $4570.0 on Sep 19. In the deal valued at $1.07 per share,4,272 shares were sold. As a result of this transaction, Beckman Richard now holds 39,061 shares worth roughly $ 31248.800000000003.

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Then, Soparkar Peter sold 13,305 shares, generating $14,232 in total proceeds. Upon selling the shares at $1.07, the insider now owns 273,251 shares.

Before that, Seyedkazemi Setareh sold 6,058 shares. Adverum Biotechnologies Inc. shares valued at $6,480 were divested by the Chief Development Officer at a price of $1.07 per share. As a result of the transaction, Seyedkazemi Setareh now holds 47,875 shares, worth roughly $38300.0.

Truist upgraded its Adverum Biotechnologies Inc. [ADVM] rating to a Buy from a a Hold in a research note published on Friday. PT values the company’s stock at a premium of 80.0 to its Friday closing price. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who decreased its forecast for the stock in late July from “an Overweight” to “a Neutral”. SVB Leerink also remained covering ADVM and has decreased its forecast on May 03, 2021 with a “Mkt perform” recommendation from previously “an Outperform” rating. Truist revised its rating on April 29, 2021. It rated ADVM as “a Hold” which previously was an “a Buy”.

Price Performance Review of ADVM

On Friday, Adverum Biotechnologies Inc. [NASDAQ:ADVM] saw its stock fall -2.22% to $0.80. On the same session, the stock had its day’s lowest price of $0.73, but rose to a high of $0.95. Over the last five days, the stock has lost -11.61%. Adverum Biotechnologies Inc. shares have fallen nearly -54.55% since the year began. Nevertheless, the stocks have fallen -64.91% over the past one year. While a 52-week high of $2.36 was reached on 01/03/22, a 52-week low of $0.80 was recorded on 11/04/22. SMA at 50 days reached $0.9871, while 200 days put it at $1.2046. A total of 1.57 million shares were traded, compared to the trading of 0.29 million shares in the previous session.

Levels Of Support And Resistance For ADVM Stock

The 24-hour chart illustrates a support level at 0.7033, which if violated will result in even more drops to 0.6067. On the upside, there is a resistance level at 0.9233. A further resistance level may holdings at 1.0467. The Relative Strength Index (RSI) on the 14-day chart is 31.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0562, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.83%. Stochastics %K at 11.06% indicates the stock is a buying.

How much short interest is there in Adverum Biotechnologies Inc.?

A steep rise in short interest was recorded in Adverum Biotechnologies Inc. stocks on Jul 14, 2022, dropping by -1.92 million shares to a total of 3.53 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 5.45 million shares. There was a decline of -54.39%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.06% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.48.

Adverum Biotechnologies Inc. [ADVM] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 10,869,270 shares, or roughly 10.94% of the outstanding ADVM shares. In other words, the investor’s shares have fallen by -4,583 from its previous 13-F filing of 10873853.0. Additionally, Morgan Stanley & Co. LLC increased 2,083.33% of its stake after which the total value it holdings stand at $6,977,977. At present, The Vanguard Group, Inc. is holding 4,125,928 shares valued at $3.92 million. Invus Public Equities Advisors LL owned 3,000,000 shares of the company at the time of its most recent 13F filing, worth $2.85 million.

According to FactSet, Adverum Biotechnologies Inc.’s share price will average $4.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 509.76 percent from its previous closing price of $0.82. Analysts expect Adverum Biotechnologies Inc. stock to reach the higher price of $6.00, while the lowest price estimate is $2.50. However, 4 analysts have rated ADVM stock as an Overweight in their predictions for 2022.


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