Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Major Shareholder Braden Michael Leonard Buys 19,566 Shares

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) major shareholder Braden Michael Leonard acquired 19,566 shares of Adverum Biotechnologies stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average cost of $4.38 per share, with a total value of $85,699.08. Following the completion of the purchase, the insider now owns 2,742,317 shares in the company, valued at approximately $12,011,348.46. This represents a 0.72 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

• On Wednesday, April 2nd, Braden Michael Leonard purchased 15,209 shares of Adverum Biotechnologies stock. The stock was bought at an average cost of $4.04 per share, with a total value of $61,444.36.
• On Wednesday, March 26th, Braden Michael Leonard acquired 20,407 shares of Adverum Biotechnologies stock. The stock was bought at an average price of $5.04 per share, for a total transaction of $102,851.28.
• On Thursday, March 20th, Braden Michael Leonard bought 30,600 shares of Adverum Biotechnologies stock. The shares were bought at an average cost of $5.61 per share, with a total value of $171,666.00.
• On Tuesday, March 18th, Braden Michael Leonard purchased 62,341 shares of Adverum Biotechnologies stock. The stock was bought at an average cost of $4.69 per share, for a total transaction of $292,379.29.

Adverum Biotechnologies Price Performance

NASDAQ:ADVM traded up $0.43 during trading hours on Wednesday, reaching $4.26. The company’s stock had a trading volume of 153,732 shares, compared to its average volume of 256,743. The company has a market cap of $88.62 million, a price-to-earnings ratio of -0.71 and a beta of 1.14. Adverum Biotechnologies, Inc. has a one year low of $3.52 and a one year high of $14.16. The business’s 50-day moving average is $4.49 and its 200-day moving average is $5.72.

Institutional Investors Weigh In On Adverum Biotechnologies

A number of large investors have recently added to or reduced their stakes in the stock. Regeneron Pharmaceuticals Inc. bought a new position in Adverum Biotechnologies in the 4th quarter worth $845,000. State Street Corp grew its position in shares of Adverum Biotechnologies by 32.7% in the third quarter. State Street Corp now owns 369,616 shares of the biotechnology company’s stock valued at $2,595,000 after purchasing an additional 91,112 shares during the last quarter. Barclays PLC increased its stake in shares of Adverum Biotechnologies by 125.8% in the third quarter. Barclays PLC now owns 35,832 shares of the biotechnology company’s stock worth $252,000 after purchasing an additional 19,965 shares during the period. MetLife Investment Management LLC lifted its position in shares of Adverum Biotechnologies by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,582 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 7,089 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Adverum Biotechnologies during the 3rd quarter worth about $93,000. Institutional investors own 48.17% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Adverum Biotechnologies from a “hold” rating to a “sell” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Adverum Biotechnologies presently has an average rating of “Moderate Buy” and an average price target of $27.83.

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.