Price Change to Note: Could Adverum Biotechnologies Inc Change Direction After Today’s Significant Decline?

Price Change to Note: Could Adverum Biotechnologies Inc Change Direction After Today's Significant Decline?

The stock of Adverum Biotechnologies Inc (NASDAQ:ADVM) is a huge mover today! About 103,281 shares traded hands. Adverum Biotechnologies Inc (NASDAQ:ADVM) has declined 22.07% since March 9, 2016 and is downtrending. It has underperformed by 29.48% the S&P500.
The move comes after 5 months negative chart setup for the $150.38M company. It was reported on Oct, 12 by Barchart.com. We have $3.28 PT which if reached, will make NASDAQ:ADVM worth $21.05M less.

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: Globenewswire.com, which released: “Adverum Biotechnologies Presents Preclinical Data on Novel Gene Therapy …” on September 16, 2016. Prnewswire.com‘s article titled: “Adverum Biotechnologies Appoints Leone Patterson as Chief Financial Officer” and published on June 13, 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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