Braden Michael Leonard Purchases 19,566 Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) major shareholder Braden Michael Leonard purchased 19,566 shares of the stock in a transaction on Monday, March 31st. The stock was acquired at an average cost of $4.38 per share, for a total transaction of $85,699.08. Following the acquisition, the insider now directly owns 2,742,317 shares in the company, valued at approximately $12,011,348.46. This trade represents a 0.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large 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 bought 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, for a total transaction of $102,851.28.
• On Thursday, March 20th, Braden Michael Leonard bought 30,600 shares of Adverum Biotechnologies stock. The stock was purchased at an average price of $5.61 per share, with a total value of $171,666.00.
• On Tuesday, March 18th, Braden Michael Leonard acquired 62,341 shares of Adverum Biotechnologies stock. The stock was acquired at an average price of $4.69 per share, with a total value of $292,379.29.

Adverum Biotechnologies Trading Up 11.2 %

Shares of NASDAQ:ADVM traded up $0.43 during trading on Wednesday, hitting $4.26. 153,732 shares of the company were exchanged, compared to its average volume of 256,743. The stock has a market cap of $88.62 million, a price-to-earnings ratio of -0.71 and a beta of 1.14. The firm has a fifty day moving average price of $4.49 and a two-hundred day moving average price of $5.72. Adverum Biotechnologies, Inc. has a fifty-two week low of $3.52 and a fifty-two week high of $14.16.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Adverum Biotechnologies

A number of institutional investors have recently bought and sold shares of the business. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Adverum Biotechnologies in the fourth quarter valued at approximately $845,000. State Street Corp lifted its holdings in Adverum Biotechnologies by 32.7% during the 3rd quarter. State Street Corp now owns 369,616 shares of the biotechnology company’s stock valued at $2,595,000 after purchasing an additional 91,112 shares during the last quarter. Barclays PLC boosted its position in Adverum Biotechnologies by 125.8% during the third quarter. Barclays PLC now owns 35,832 shares of the biotechnology company’s stock worth $252,000 after purchasing an additional 19,965 shares during the period. MetLife Investment Management LLC boosted its position in Adverum Biotechnologies by 129.1% during the third quarter. MetLife Investment Management LLC now owns 12,582 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 7,089 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Adverum Biotechnologies in the third quarter valued at about $93,000. Institutional investors and hedge funds own 48.17% of the company’s stock.

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.