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 $613,470 were purchased by Leonard Braden Michael on Jul 30 ’24. At $7.15 per share, Leonard Braden Michael acquired 85,800 shares. The insider’s holdings grew to 2,268,064 shares worth approximately $15.47 million following the completion of this transaction.
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Also, Leonard Braden Michael purchased 135,546 shares, netting a total of over 1,049,926 in proceeds. Following the buying of shares at $7.75 each, the insider now holds 2,101,546 shares.
Before that, Leonard Braden Michael had added 80,718 shares to its account. In a trade valued at $735,736, the 10% Owner bought Adverum Biotechnologies Inc shares for $9.11 each. Upon closing the transaction, the insider’s holdings increased to 80,718 shares, worth approximately $14.88 million.
As published in their initiating research note from Oppenheimer on June 25, 2024, Adverum Biotechnologies Inc [ADVM] has been an Outperform and the price target has been revised to $25. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in late April. As of July 07, 2022, Truist has increased its “Hold” rating to a “Buy” for ADVM. Earlier on July 23, 2021, Cantor Fitzgerald downgraded its rating. Their new recommendation was “a Neutral” for ADVM stock which previously was a “an Overweight”.
Analyzing ADVM Stock Performance
During the last five days, there has been a surge of approximately 3.49%. Over the course of the year, Adverum Biotechnologies Inc shares have dropped approximately -9.40%. Shares of the company reached a 52-week high of $29.70 on 02/08/24 and a 52-week low of $6.38 on 06/20/24. A 50-day SMA is recorded $7.05, while a 200-day SMA reached $10.35. Nevertheless, trading volume fell to 1.01 million shares from 0.21 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 6.56, which, if violated, would cause prices to drop to 6.30. In the upper region, resistance lies at 7.05. The next price resistance is at 7.29. RSI (Relative Strength Index) is 47.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.20, which suggests the price will decrease in the coming days. Percent R is at 74.33%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
