The trading price of Adverum Biotechnologies Inc. (NASDAQ:ADVM) closed higher on Tuesday, October 12, closing at $2.14, 4.39% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $2.04 and $2.17. In examining the 52-week price action we see that the stock hit a 52-week high of $14.79 and a 52-week low of $2.00. Over the past month, the stock has lost -5.73% in value.
Adverum Biotechnologies Inc., whose market valuation is $209.96 million at the time of this writing, is expected to release its quarterly earnings report Nov 03, 2021 – Nov 08, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.37 per share this quarter, however they have predicted annual earnings per share of -$1.47 for 2021 and -$1.28 for 2022. It means analysts are expecting annual earnings per share growth of -6.50% this year and 12.90% next year.
From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $7.5 million.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Adverum Biotechnologies Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ADVM has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ADVM a recommendation rating is 8. Out of them, 7 rate it a Hold, while 1 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Adverum Biotechnologies Inc. (ADVM) as Underweight, while 0 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that ADVM’s price is currently -2.97% off the SMA20 and -6.79% off the SMA50. The RSI metric on the 14-day chart is currently showing 45.17, and weekly volatility stands at 5.48%. When measured over the past 30 days, the indicator reaches 6.26%. Adverum Biotechnologies Inc. (NASDAQ:ADVM)’s beta value is currently sitting at 1.10, while the Average True Range indicator is currently displaying 0.14. With analysts defining $2.00-$6.00 as the low and high price targets, we arrive at a consensus price target of $3.57 for the trailing 12-month period. The current price is about 6.54% off the estimated low and -180.37% off the forecast high, based on this estimate. Investors will be thrilled if ADVM’s share price rises to $3.00, which is the median consensus price. At that level, ADVM’s share price would be -40.19% below current price.
To see how Adverum Biotechnologies Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: ADVM stock’s performance was 4.39% in the latest trading, and -80.98% in the past year, while Acceleron Pharma Inc. (XLRN) has traded -0.69% on the day and positioned 45.84% higher than it was a year ago. Another comparable company Agilent Technologies Inc. (A) saw its stock close -1.38% lower in the most recent trading session but was up 40.33% in a year. Adverum Biotechnologies Inc. has a P/E ratio of 0. Also in last trading session, the S&P 500 Index has plunged -0.24%, while the Dow Jones Industrial also saw a negative session, down -0.34% on the day.
An evaluation of the daily trading volume of Adverum Biotechnologies Inc. (NASDAQ:ADVM) indicates that the 3-month average is 2.42 million. However, this figure has increased over the past 10 days to an average of 6.8 million.
Currently, records show that 98.02 million of the company’s shares remain outstanding. The insiders hold 1.40% of outstanding shares, whereas institutions hold 82.20%. The stats also highlight that short interest as of Aug 12, 2021, stood at 12.4 million shares, resulting in a short ratio of 5.29 at that time. From this, we can conclude that short interest is 12.63% of the company’s total outstanding shares. It is noteworthy that short shares in August were up slightly from the previous month’s figure, which was 10.97 million. However, since the stock’s price has seen -80.26% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.