Chardan Capital Upgrades Adverum Biotechnologies
Chardan Capital has upgraded its outlook for Adverum Biotechnologies to Buy.
Fintel reports that on August 11, 2023, Chardan Capital upgraded their outlook for Adverum Biotechnologies (NASDAQ:ADVM) from Neutral to Buy.
Analyst Price Forecast Suggests 102.38% Upside
As of August 2, 2023, the average one-year price target for Adverum Biotechnologies is 3.82. The forecasts range from a low of 2.02 to a high of $6.30. The average price target represents an increase of 102.38% from its latest reported closing price of 1.89.
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The projected annual revenue for Adverum Biotechnologies is 0MM, a decrease of 100.00%. The projected annual non-GAAP EPS is -1.48.
What is the Fund Sentiment?
There are 94 funds or institutions reporting positions in Adverum Biotechnologies. This is a decrease of 15 owner(s) or 13.76% in the last quarter. Average portfolio weight of all funds dedicated to ADVM is 0.21%, an increase of 44.05%. Total shares owned by institutions increased in the last three months by 4.58% to 60,676K shares. The put/call ratio of ADVM is 0.01, indicating a bullish outlook.
What are Other Shareholders Doing?
FBIOX – Biotechnology Portfolio holds 7,472K shares representing 7.43% ownership of the company. No change in the last quarter.
Bank Of America holds 5,592K shares representing 5.56% ownership of the company. In it’s prior filing, the firm reported owning 5,592K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in ADVM by 11.67% over the last quarter.
BML Capital Management holds 5,157K shares representing 5.13% ownership of the company. In it’s prior filing, the firm reported owning 7,067K shares, representing a decrease of 37.04%. The firm increased its portfolio allocation in ADVM by 68.30% over the last quarter.
Versant Venture Management holds 5,068K shares representing 5.04% ownership of the company. No change in the last quarter.
Commodore Capital holds 5,000K shares representing 4.97% ownership of the company.
Adverum Biotechnologies Background Information
(This description is provided by the company.)
Adverum Biotechnologies is a clinical-stage gene therapy company targeting unmet medical needs in serious ocular and rare diseases. Adverum is advancing the clinical development of its novel gene therapy candidate, ADVM-022, as a one-time, intravitreal injection for the treatment of patients with wet age-related macular degeneration and diabetic macular edema.
This article originally appeared on Fintel
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