Regeneron Pharmaceuticals Inc. Takes Position in Adverum Biotechnologies, Inc. (NASDAQ:ADVM)

Regeneron Pharmaceuticals Inc. purchased a new stake in Adverum Biotechnologies, Inc. (NASDAQ:ADVM) in the fourth quarter, Holdings Channel.com reports. The fund purchased 180,909 shares of the biotechnology company’s stock, valued at approximately $845,000. Adverum Biotechnologies accounts for approximately 0.1% of Regeneron Pharmaceuticals Inc.’s portfolio, making the stock its 5th biggest position.

Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of Adverum Biotechnologies by 177.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,146 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 2,649 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Adverum Biotechnologies in the 3rd quarter valued at about $71,000. MetLife Investment Management LLC increased its holdings in Adverum Biotechnologies by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,582 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 7,089 shares in the last quarter. Zacks Investment Management purchased a new position in Adverum Biotechnologies during the 3rd quarter valued at about $89,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Adverum Biotechnologies during the 3rd quarter valued at about $93,000. Hedge funds and other institutional investors own 48.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of Adverum Biotechnologies from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Adverum Biotechnologies in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Adverum Biotechnologies presently has a consensus rating of “Moderate Buy” and an average target price of $27.83.

Adverum Biotechnologies Price Performance

Adverum Biotechnologies stock opened at $4.40 on Tuesday. Adverum Biotechnologies, Inc. has a 12-month low of $3.52 and a 12-month high of $19.10. The stock has a market capitalization of $91.53 million, a P/E ratio of -0.73 and a beta of 1.14. The firm’s 50-day moving average is $4.39 and its two-hundred day moving average is $5.96.

Adverum Biotechnologies Company Profile

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.