The medical science and biotechnology industry is currently one of the front runners when it comes to the stock market. Many biotechnologies are working towards the betterment of treatment procedures and therapies in some of the rarest diseases. Adverum Biotechnologies is one such popular biotech firm that is working towards continuous research and development of gene therapy. With better revenues and a recent public offering, NASDAQ: ADVM at https://www.webull.com/quote/nasdaq-advm is doing good in the stock market.
About Adverum Biotechnologies
Adverum Biotechnologies is a biotech-science company that is actively targeting the unmet medical science market. They are headquartered in California, USA. They have a team of people who are dedicated to creating medicines and therapies that can be helpful for patients. Adverum Biotechnologies is a gene therapy firm who are working towards treatments and therapies for some of the rare and ocular diseases.
They work towards investing biotechnology therapies, as they develop candidates which will work as therapeutic protein. They have manufacturing expertise in therapy products, along with in house research and vector discovery, assay development, and clinical development.
The public offering of Adverum Biotechnologies
In current happenings, Adverum Biotechnologies offered public offering for both equity offering and common offering. The equity offering of the firm was totaled at $200 million. Whereas, the common shares of the firm has an expected raising of $189 million. They are offering in a total of 14.5 million common shares, and they are priced at $13.00 per share. The shares have also decreased by 6% premarket value. Also, the underwriters are going to get a 30-day option for buying up to 15 percent of the common stocks.
Market performance of Adverum Biotechnologies
Adverum Biotechnologies is having a good run in the stock market for some time now. In June, the company had the highest one-year stock price of $26.98. The recent stock performance of NASDAQ: ADVM is giving a stronger sign of future upside. Recently, the price of the stock was $15. 59.
52 weeks’ performance of stocks tends to be one of the major factors that tell a lot about future performance. The current price of Adverum Biotechnologies stocks is showing a lag of -42.22% from higher price and uprise of 214.31% from the lowest price. Also, the trading volume of the shares was at 2217965, which is easily a comfortable high from the daily average. Also, the year to date share performance has risen to 35.33%.
According to a recent analysis, the market gurus are giving the Adverum Biotechnologies stocks a buy rating. This makes it a very potential stock option for those who are looking to buy. The company has been on the rise when it comes to stock prices and has shown positive performance in most of the moving trends of the stock market. You can check the latest stock quotes before stock trading.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.