Mizuho lowered the firm’s price target on Adverum Biotechnologies to $22 from $40 and keeps a Buy rating on the shares ahead of the Q1 report. The analyst cites dilution associated with the February equity capital raise, the March 1- for-10 reverse split, as well as the firm’s newly introduced quarterly estimates for 2024 and updated forecasts in the years beyond for the target drop.
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