Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Major Shareholder Buys $85,699.08 in Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) major shareholder Braden Michael Leonard purchased 19,566 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were bought at an average price of $4.38 per share, with a total value of $85,699.08. Following the acquisition, the insider now directly owns 2,742,317 shares of the company’s stock, valued at $12,011,348.46. This represents a 0.72 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

• On Wednesday, April 2nd, Braden Michael Leonard acquired 15,209 shares of Adverum Biotechnologies stock. The shares were purchased at an average cost of $4.04 per share, for a total transaction of $61,444.36.
• On Wednesday, March 26th, Braden Michael Leonard bought 20,407 shares of Adverum Biotechnologies stock. The stock was purchased at an average price of $5.04 per share, with a total value of $102,851.28.
• On Thursday, March 20th, Braden Michael Leonard acquired 30,600 shares of Adverum Biotechnologies stock. The stock was purchased at an average cost of $5.61 per share, with a total value of $171,666.00.
• On Tuesday, March 18th, Braden Michael Leonard bought 62,341 shares of Adverum Biotechnologies stock. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $292,379.29.

Adverum Biotechnologies Stock Down 2.0 %

Shares of ADVM stock opened at $3.86 on Friday. The firm has a market cap of $80.30 million, a P/E ratio of -0.64 and a beta of 1.14. The company has a 50 day moving average of $4.46 and a 200-day moving average of $5.67. Adverum Biotechnologies, Inc. has a 12-month low of $3.52 and a 12-month high of $13.40.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Adverum Biotechnologies from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.83.

Institutional Trading of Adverum Biotechnologies

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Adverum Biotechnologies by 177.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,146 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 2,649 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Adverum Biotechnologies by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 12,240 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 2,659 shares during the last quarter. Geode Capital Management LLC boosted its position in Adverum Biotechnologies by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 442,490 shares of the biotechnology company’s stock worth $2,067,000 after purchasing an additional 3,434 shares during the period. Barclays PLC increased its stake in shares of Adverum Biotechnologies by 11.3% in the fourth quarter. Barclays PLC now owns 39,887 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 4,055 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Adverum Biotechnologies by 36.6% in the fourth quarter. American Century Companies Inc. now owns 16,277 shares of the biotechnology company’s stock valued at $76,000 after purchasing an additional 4,362 shares during the period. 48.17% of the stock is owned by hedge funds and other institutional investors.

About Adverum Biotechnologies

Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.