Adverum Biotechnologies (ADVM) Receives a Buy from Truist Financial

Truist Financial analyst Joon Lee maintained a Buy rating on Adverum Biotechnologies (ADVM – Research Report) today. The company’s shares closed yesterday at $8.93.

Lee covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Wave Life Sciences, and Catalyst Pharma. According to TipRanks, Lee has an average return of 23.9% and a 49.17% success rate on recommended stocks.

In addition to Truist Financial, Adverum Biotechnologies also received a Buy from H.C. Wainwright’s Matthew Caufield in a report issued on May 10. However, on the same day, RBC Capital maintained a Hold rating on Adverum Biotechnologies (NASDAQ: ADVM).

Based on Adverum Biotechnologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $23.71 million. In comparison, last year the company had a GAAP net loss of $32.74 million

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Adverum Biotechnologies (ADVM) Company Description:

Adverum Biotechnologies, Inc. is a clinical-stage biotechnology company that engages in the development of novel gene therapies to treat patients with sight-threatening ophthalmic diseases. It focuses on treatment of wet age-related macular degeneration, alpha-1 antitrypsin deficiency, hereditary angioedema, friedreich’s ataxia, severe allergy, color vision deficiency, and juvenile x-linked retinoschisis. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr. and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Menlo Park, CA.