Adverum Biotechnologies Inc’s recently made public that its 10% Owner Leonard Braden Michael acquired Company’s shares for reported $0.61 million on Jul 30 ’24. In the deal valued at $7.15 per share,85,800 shares were bought. As a result of this transaction, Leonard Braden Michael now holds 2,268,064 shares worth roughly $14.18 million.
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Then, Leonard Braden Michael bought 135,546 shares, generating $1,049,926 in total proceeds. Upon buying the shares at $7.75, the 10% Owner now owns 2,101,546 shares.
Before that, Leonard Braden Michael bought 80,718 shares. Adverum Biotechnologies Inc shares valued at $735,736 were divested by the 10% Owner at a price of $9.11 per share. As a result of the transaction, Leonard Braden Michael now holds 2,182,264 shares, worth roughly $13.64 million.
Oppenheimer initiated its Adverum Biotechnologies Inc [ADVM] rating to an Outperform in a research note published on June 25, 2024; the price target was $25. A number of analysts have revised their coverage, including H.C. Wainwright’s analysts, who began to cover the stock in late April with a ‘”a Buy”‘ rating. Truist also remained covering ADVM and has increased its forecast on July 07, 2022 with a “Buy” recommendation from previously “Hold” rating. Cantor Fitzgerald revised its rating on July 23, 2021. It rated ADVM as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of ADVM
On Tuesday, Adverum Biotechnologies Inc [NASDAQ:ADVM] saw its stock fall -8.76% to $6.25. Over the last five days, the stock has lost -20.79%. Adverum Biotechnologies Inc shares have fallen nearly -16.98% since the year began. Nevertheless, the stocks have fallen -30.56% over the past one year. While a 52-week high of $29.70 was reached on 02/08/24, a 52-week low of $6.38 was recorded on 11/19/24. SMA at 50 days reached $7.46, while 200 days put it at $10.10.
Levels Of Support And Resistance For ADVM Stock
The 24-hour chart illustrates a support level at 5.96, which if violated will result in even more drops to 5.67. On the upside, there is a resistance level at 6.72. A further resistance level may holdings at 7.19. The Relative Strength Index (RSI) on the 14-day chart is 28.83, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.61%. Stochastics %K at 3.99% 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 2024-10-31, growing by 0.12 million shares to a total of 1.6 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 1.48 million shares. There was a rise of 7.7%, which implies that there is a positive sentiment for the stock.
