Adverum Biotechnologies Inc (NASDAQ:ADVM) Could Burn Your Long Portfolio After More Shorts

April 17, 2018 - By Adrian Mccoy

The stock of Adverum Biotechnologies Inc (NASDAQ:ADVM) registered an increase of 18.96% in short interest. ADVM’s total short interest was 2.22 million shares in April as published by FINRA. Its up 18.96% from 1.87M shares, reported previously. With 936,000 shares average volume, it will take short sellers 2 days to cover their ADVM’s short positions. The short interest to Adverum Biotechnologies Inc’s float is 9.11%.

The stock increased 1.97% or $0.125 during the last trading session, reaching $6.475. About 36,617 shares traded. Adverum Biotechnologies, Inc. (NASDAQ:ADVM) has risen 103.64% since April 17, 2017 and is uptrending. It has outperformed by 92.09% the S&P500.

Adverum Biotechnologies, Inc., a gene therapy company, discovers and develops novel medicines for patients suffering from rare diseases or diseases of eye. The company has market cap of $402.57 million. The firm has a pipeline that includes product candidates to treat wet age-related macular degeneration , alpha 1 antitrypsin deficiency (A1AT), and hereditary angioedema. It currently has negative earnings. The Company’s lead gene therapy programs include ADVM-022 and ADVM-032, which are in the preclinical development of new anti-VEGF gene therapy candidates for wAMD diseases; and ADVM-043, which is in patient enrollment in a phase 1/2 trial for the treatment of A1AT.

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Ratings Chart

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