<div id="readability-page-1"><p>Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 1,500,000 shares, a growth of 19.0% from the July 31st total of 1,260,000 shares. Approximately 10.7% of the shares of the company are sold short. Based on an average daily volume of 329,000 shares, the short-interest ratio is currently 4.6 days.</p><h2>Adverum Biotechnologies Trading Up 0.9 %</h2><p>Shares of ADVM stock opened at $6.94 on Friday. The company has a market capitalization of $144.05 million, a price-to-earnings ratio of -0.68 and a beta of 1.07. The firm has a 50-day moving average price of $7.33 and a 200 day moving average price of $10.77. Adverum Biotechnologies has a twelve month low of $6.38 and a twelve month high of $29.70. </p><p>Adverum Biotechnologies (NASDAQ:ADVM - Get Free Report) last released its quarterly earnings data on Monday, August 12th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.47) by $0.58. As a group, research analysts predict that Adverum Biotechnologies will post -5.5 earnings per share for the current year. </p><h2>Insider Activity at Adverum Biotechnologies</h2><p>In other Adverum Biotechnologies news, major shareholder Braden Michael Leonard bought 85,800 shares of the company's stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $7.15 per share, for a total transaction of $613,470.00. Following the transaction, the insider now owns 2,268,064 shares of the company's stock, valued at approximately $16,216,657.60. The transaction was disclosed in a filing with the Securities &amp; Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders. </p><h2>Institutional Investors Weigh In On Adverum Biotechnologies</h2><p>Several hedge funds and other institutional investors have recently bought and sold shares of ADVM. Picton Mahoney Asset Management acquired a new stake in shares of Adverum Biotechnologies in the 1st quarter valued at about $1,755,000. Assenagon Asset Management S.A. raised its stake in Adverum Biotechnologies by 72.3% during the second quarter. Assenagon Asset Management S.A. now owns 617,910 shares of the biotechnology company's stock valued at $4,239,000 after buying an additional 259,191 shares in the last quarter. Avoro Capital Advisors LLC bought a new position in Adverum Biotechnologies during the 1st quarter worth approximately $5,892,000. Squarepoint Ops LLC grew its position in shares of Adverum Biotechnologies by 301.1% in the 2nd quarter. Squarepoint Ops LLC now owns 108,978 shares of the biotechnology company's stock worth $748,000 after acquiring an additional 81,808 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Adverum Biotechnologies by 52.9% in the 2nd quarter. Marshall Wace LLP now owns 204,619 shares of the biotechnology company's stock valued at $1,404,000 after acquiring an additional 70,768 shares during the last quarter. 48.17% of the stock is currently owned by hedge funds and other institutional investors. </p><h2>Analysts Set New Price Targets</h2><p>ADVM has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Adverum Biotechnologies from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a report on Thursday, August 15th. HC Wainwright reiterated a &#34;buy&#34; rating and set a $30.00 price target on shares of Adverum Biotechnologies in a research report on Tuesday, August 13th. Royal Bank of Canada decreased their price target on Adverum Biotechnologies from $15.00 to $12.00 and set a &#34;sector perform&#34; rating on the stock in a research note on Tuesday, August 13th. Oppenheimer assumed coverage on Adverum Biotechnologies in a research note on Tuesday, June 25th. They issued an &#34;outperform&#34; rating and a $25.00 price objective for the company. Finally, Truist Financial reduced their price objective on Adverum Biotechnologies from $60.00 to $40.00 and set a &#34;buy&#34; rating for the company in a report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of &#34;Moderate Buy&#34; and a consensus target price of $28.17.</p><p><b>Get Our Latest Stock Report on Adverum Biotechnologies</b></p><h2>About Adverum Biotechnologies</h2> (Get Free Report)<p>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.</p><h2>Further Reading</h2><ul><li>Five stocks we like better than Adverum Biotechnologies</li><li>Utilities Stocks Explained – How and Why to Invest in Utilities</li><li>The Solar Stock Battle: Is Daqo or JinkoSolar Your Next Big Win?</li><li>There Are Different Types of Stock To Invest In</li><li>Are These Chinese Stocks a Buy? Michael Burry’s Top Picks Say Yes</li><li>Business Services Stocks Investing</li><li>Five Below Stock Faces Challenges Despite Strong Revenue Growth</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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ADVM

<p>Adverum Biotechnologies, Inc. (NASDAQ:ADVM) experienced a significant 19.0% increase in short interest in August, reaching 1,500,000 shares. Currently, 10.7% of the company's shares are sold short, with a days-to-cover ratio of 4.6 days based on an average trading volume of 329,000 shares. The company's market cap is $50 million, with shares trading at $0.94. Analysts hold a "Moderate Buy" consensus rating with a target price of $1.17. Insider and institutional investor activities indicate growing interest in the stock.</p>

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Sees Large Increase in Short Interest