This trade activity should not be overlooked: Adverum Biotechnologies Inc. (ADVM)

Adverum Biotechnologies Inc. (NASDAQ: ADVM) stock jumped 9.94% on Wednesday to $0.97 against a previous-day closing price of $0.88. With 2.18 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.93 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.0200 whereas the lowest price it dropped to was $0.8800. The 52-week range on ADVM shows that it touched its highest point at $2.52 and its lowest point at $0.80 during that stretch. It currently has a 1-year price target of $4.50. Beta for the stock currently stands at 1.14.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ADVM was down-trending over the past week, with a drop of -7.80%, but this was down by -13.56% over a month. Three-month performance dropped to -17.96% while six-month performance fell -30.35%. The stock lost -57.54% in the past year, while it has lost -44.99% so far this year. A look at the trailing 12-month EPS for ADVM yields -1.57 with Next year EPS estimates of -1.20. For the next quarter, that number is -0.34. This implies an EPS growth rate of -7.60% for this year and 19.50% for next year.

Float and Shares Shorts:

At present, 99.00 million ADVM shares are outstanding with a float of 95.70 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.53 million, which was 3.57% higher than short shares on Jun 14, 2022. In addition to Dr. Laurent Fischer as the firm’s Pres, CEO & Director, Mr. Kishor Peter Soparkar J.D. serves as its Chief Operating Officer.

Institutional Ownership:

Through their ownership of 69.94% of ADVM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.62% of ADVM, in contrast to 4.47% held by mutual funds. Shares owned by individuals account for 21.08%. As the largest shareholder in ADVM with 10.94% of the stake, Fidelity Management & Research Co holds 10,869,270 shares worth 10,869,270. A second-largest stockholder of ADVM, Morgan Stanley & Co. LLC, holds 7,345,239 shares, controlling over 7.40% of the firm’s shares. Lawrence Kam is the third largest shareholder in ADVM, holding 6,552,068 shares or 6.60% stake. With a 10.67% stake in ADVM, the Fidelity Select Port. – Biotechno is the largest stakeholder. A total of 10,597,366 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.68% of ADVM stock, is the second-largest Mutual Fund holder. It holds 2,661,554 shares valued at 3.09 million. JPMorgan Funds – Thematics – Gene holds 1.64% of the stake in ADVM, owning 1,626,921 shares worth 1.89 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ADVM since 4 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ADVM analysts setting a high price target of $6.00 and a low target of $2.50, the average target price over the next 12 months is $4.50. Based on these targets, ADVM could surge 518.56% to reach the target high and rise by 157.73% to reach the target low. Reaching the average price target will result in a growth of 363.92% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ADVM will report FY 2022 earnings on 03/07/2023. Analysts have provided yearly estimates in a range of -$1.35 being high and -$1.67 being low. For ADVM, this leads to a yearly average estimate of -$1.49. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Adverum Biotechnologies Inc. surprised analysts by -$0.10 when it reported -$0.44 EPS against a consensus estimate of -$0.34. The surprise factor in the prior quarter was -$0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.26 and the low estimate is -$0.43. The average estimate for the next quarter is thus -$0.34.

Summary of Insider Activity:

Insiders traded ADVM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 176,925 while 54,766 shares were sold.

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