Adverum Biotechnologies (NASDAQ:ADVM – Get Free Report) posted its quarterly earnings results on Monday. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.47) by $0.58, Yahoo Finance reports.
Adverum Biotechnologies Stock Up 3.4 %
ADVM stock opened at $6.99 on Wednesday. The business’s fifty day simple moving average is $7.40 and its two-hundred day simple moving average is $11.60. Adverum Biotechnologies has a twelve month low of $6.38 and a twelve month high of $29.70. The firm has a market cap of $145.09 million, a price-to-earnings ratio of -0.66 and a beta of 1.07.
Insider Activity
In other news, major shareholder Braden Michael Leonard purchased 135,546 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were purchased at an average price of $7.75 per share, for a total transaction of $1,050,481.50. Following the completion of the purchase, the insider now owns 2,101,546 shares in the company, valued at approximately $16,286,981.50. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.20% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Research Report on Adverum Biotechnologies
Adverum Biotechnologies Company Profile
Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.
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