ADVM Stock Summary and Trading Ideas (Adverum Biotechnologies | NASDAQ:ADVM)

Adverum Biotechnologies Inc is a U.S.-based clinical-stage gene therapy company. It develops gene therapy product candidates intended to provide durable efficacy by inducing sustained expression of a therapeutic protein. The company primarily generates revenue through license, research and collaboration arrangements with its strategic partners. Its lead product candidate is ADVM-022 which is a single, in-office intravitreal (IVT) injection gene therapy designed to deliver long-term durable levels of aflibercept associated with a robust, sustained treatment response, reducing the treatment burden and fluctuations in macular fluid associated with frequent anti-vascular endothelial growth factor (VEGF) injections.

Adverum Biotechnologies trades on the NASDAQ stock market under the symbol ADVM.

As of March 27, 2023, ADVM stock price climbed to $0.78 with 65,021 million shares trading.

ADVM has a beta of 0.65, meaning it tends to be less sensitive to market movements. ADVM has a correlation of 0.06 to the broad based SPY ETF.

ADVM has a market cap of $77.79 million. This is considered a Micro Cap stock.

In the last 3 years, ADVM stock traded as high as $26.98 and as low as $.53.

The top ETF exchange traded funds that ADVM belongs to (by Net Assets): VTI, VXF, IWC, ITOT, DFAU.

ADVM has underperformed the market in the last year with a price return of -44.3% while the SPY ETF lost -10.6%. However, in the short term, ADVM had mixed performance relative to the market. It has outperformed in the last 3 months, returning +36.8% vs +3.8% return in SPY. But in the last 2 weeks, ADVM shares have been beat by the market, returning -1.3% compared to an SPY return of +3.0%.

ADVM support price is $.72 and resistance is $.80 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ADVM stock will trade within this expected range on the day.