Dimensional Fund Advisors LP Has $1.97 Million Stake in Adverum Biotechnologies Inc (ADVM)

Dimensional Fund Advisors LP boosted its stake in shares of Adverum Biotechnologies Inc (NASDAQ:ADVM) by 77.2% during the third quarter, HoldingsChannel reports. The firm owned 540,097 shares of the biotechnology company’s stock after acquiring an additional 235,356 shares during the period. Dimensional Fund Advisors LP’s holdings in Adverum Biotechnologies were worth $1,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Adverum Biotechnologies by 41.6% during the third quarter. JPMorgan Chase & Co. now owns 103,009 shares of the biotechnology company’s stock valued at $355,000 after purchasing an additional 30,254 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Adverum Biotechnologies during the second quarter valued at approximately $420,000. Susquehanna International Group LLP purchased a new position in Adverum Biotechnologies during the second quarter valued at approximately $162,000. OxFORD Asset Management LLP grew its position in Adverum Biotechnologies by 719.0% during the second quarter. OxFORD Asset Management LLP now owns 229,669 shares of the biotechnology company’s stock valued at $574,000 after purchasing an additional 201,628 shares in the last quarter. Finally, Virtu KCG Holdings LLC purchased a new position in Adverum Biotechnologies during the second quarter valued at approximately $144,000. 30.72% of the stock is currently owned by hedge funds and other institutional investors.

Adverum Biotechnologies Inc (ADVM) opened at $7.50 on Friday. Adverum Biotechnologies Inc has a 1 year low of $2.40 and a 1 year high of $8.59.

Adverum Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.03). Adverum Biotechnologies had a negative net margin of 3,398.29% and a negative return on equity of 26.60%. The company had revenue of $0.46 million for the quarter. analysts expect that Adverum Biotechnologies Inc will post -1.31 earnings per share for the current year.

ADVM has been the topic of a number of research analyst reports. Raymond James Financial initiated coverage on shares of Adverum Biotechnologies in a research report on Thursday, October 12th. They set an “outperform” rating and a $6.00 price objective on the stock. ValuEngine raised shares of Adverum Biotechnologies from a “strong sell” rating to a “sell” rating in a research report on Monday, October 16th. Zacks Investment Research downgraded shares of Adverum Biotechnologies from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Chardan Capital reaffirmed a “hold” rating on shares of Adverum Biotechnologies in a research report on Tuesday, December 19th.

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Adverum Biotechnologies Profile

Adverum Biotechnologies, Inc, formerly Avalanche Biotechnologies, Inc, is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics.

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Institutional Ownership by Quarter for Adverum Biotechnologies (NASDAQ:ADVM)

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