The stock of Adverum Biotechnologies Inc (NASDAQ:ADVM) reached all time low today, Nov, 3 and still has $2.54 target or 11.00% below today’s $2.85 share price. This indicates more downside for the $119.84M company. This technical setup was reported by Barchart.com. If the $2.54 PT is reached, the company will be worth $13.18 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 6.56% or $0.2 during the last trading session, hitting $2.85. About 160,182 shares traded hands or 5.68% up from the average. Adverum Biotechnologies Inc (NASDAQ:ADVM) has declined 41.35% since April 1, 2016 and is downtrending. It has underperformed by 42.56% the S&P500.
Analysts await Adverum Biotechnologies Inc (NASDAQ:ADVM) to report earnings on November, 14. They expect $-0.28 EPS, up 49.09% or $0.27 from last year’s $-0.55 per share. After $-0.36 actual EPS reported by Adverum Biotechnologies Inc for the previous quarter, Wall Street now forecasts -22.22% EPS growth.
According to Zacks Investment Research, “Adverum Biotechnologies, Inc. is a gene therapy company. The Company discovers and develops novel medicines for patients living with rare diseases. Adverum Biotechnologies Inc, formerly known as Avalanche Biotechnologies Inc., is headquartered in Menlo Park, California.”
More news for Adverum Biotechnologies Inc (NASDAQ:ADVM) were recently published by: Nasdaq.com, which released: “Adverum Biotechnologies, Inc. Announces New Executive Chair and CEO” on October 14, 2016. Reuters.com‘s article titled: “BRIEF-Adverum biotechnologies, inc. announces new executive chair and CEO” and published on October 14, 2016 is yet another important article.
ADVM Company Profile
Adverum Biotechnologies, Inc., formerly Avalanche Biotechnologies, Inc., incorporated on July 17, 2006, is a gene therapy company. The Firm is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Firm operates and manages its business in the segment of developing and commercializing gene therapeutics. The Firm is focused on diseases with unmet medical need, including ophthalmic diseases, such as wet age-related macular degeneration (AMD), as well as rare genetic diseases. The Company’s product candidates include AVA-101 and AVA-201 for treatment of Wet AMD; AVA-322 and AVA-323 for the treatment of Color Vision Deficiency, and AVA-311 for the treatment of Juvenile X-linked Retinoschisis (XLRS). It generated human proof-of-concept data for AVA-101 in a Phase I trial with over eight wet AMD subjects conducted at Lions Eye Institute (LEI) in Australia.
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