Adverum Biotechnologies (ADVM) Gets a Hold Rating from Chardan Capital

Chardan Capital analyst Gbola Amusa reiterated a Hold rating on Adverum Biotechnologies (ADVMResearch Report) today and set a price target of $10.00. The company’s shares closed last Monday at $9.16.

According to, Amusa is a 5-star analyst with an average return of 18.0% and a 49.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Axovant Gene Therapies, and Minerva Neurosciences.

Currently, the analyst consensus on Adverum Biotechnologies is a Moderate Buy with an average price target of $9.00.

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Based on Adverum Biotechnologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.95 million. In comparison, last year the company had a GAAP net loss of $20.96 million.

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Adverum Biotechnologies, Inc. is a clinical-stage biotechnology company that engages in the development of novel gene therapies to treat patients with sight-threatening ophthalmic diseases. It focuses on treatment of wet age-related macular degeneration, alpha-1 antitrypsin deficiency, hereditary angioedema, friedreich’s ataxia, severe allergy, color vision deficiency, and juvenile x-linked retinoschisis. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr. and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Menlo Park, CA.