Adverum Biotechnologies (ADVM) Receives a Hold from Chardan Capital

In a report released today, Keay Nakae from Chardan Capital reiterated a Hold rating on Adverum Biotechnologies (ADVMResearch Report). The company’s shares closed last Friday at $1.02, close to its 52-week low of $1.01.

According to TipRanks.com, Nakae is a 4-star analyst with an average return of 7.8% and a 38.8% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Sonnet BioTherapeutics Holdings, Mountain Crest Acquisition II, and Emergent Biosolutions.

Adverum Biotechnologies has an analyst consensus of Hold.

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Adverum Biotechnologies’ market cap is currently $100.7M and has a P/E ratio of -0.69.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADVM in relation to earlier this year.

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Adverum Biotechnologies, Inc. is a clinical-stage biotechnology company that engages in the development of novel gene therapies to treat patients with sight-threatening ophthalmic diseases. It focuses on treatment of wet age-related macular degeneration, alpha-1 antitrypsin deficiency, hereditary angioedema, friedreich’s ataxia, severe allergy, color vision deficiency, and juvenile x-linked retinoschisis. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr. and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Menlo Park, CA.

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