Adverum Biotechnologies (NASDAQ:ADVM – Get Free Report) released its quarterly earnings data on Monday. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.58, Yahoo Finance reports.
Adverum Biotechnologies Price Performance
Shares of ADVM stock opened at $6.76 on Wednesday. Adverum Biotechnologies has a 1-year low of $6.38 and a 1-year high of $29.70. The firm has a market cap of $140.32 million, a PE ratio of -0.66 and a beta of 1.07. The company has a 50-day moving average of $7.40 and a two-hundred day moving average of $11.60.
Insider Activity
In other news, major shareholder Braden Michael Leonard bought 85,800 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $7.15 per share, with a total value of $613,470.00. Following the completion of the transaction, the insider now directly owns 2,268,064 shares in the company, valued at $16,216,657.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on Adverum Biotechnologies
About Adverum Biotechnologies
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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