The stock of Adverum Biotechnologies Inc (NASDAQ:ADVM) is a huge mover today! About 174,801 shares traded hands or 12.35% up from the average. Adverum Biotechnologies Inc (NASDAQ:ADVM) has declined 32.58% since April 13, 2016 and is downtrending. It has underperformed by 36.51% the S&P500.
The move comes after 8 months negative chart setup for the $139.90 million company. It was reported on Nov, 15 by Barchart.com. We have $3.06 PT which if reached, will make NASDAQ:ADVM worth $13.99M less.
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.”
Another recent and important Adverum Biotechnologies Inc (NASDAQ:ADVM) news was published by Globenewswire.com which published an article titled: “Adverum Biotechnologies, Inc. Reports Third Quarter 2016 Financial Results” on November 08, 2016.
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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