Short Interest Don’t Lie: What’s Propelling Adverum Biotechnologies Incorporated (NASDAQ:ADVM) After Higher Shorts Reported?

November 23, 2016 - By Dolores Ford   ·   0 Comments

Short Interest Don't Lie: What’s Propelling Adverum Biotechnologies Incorporated (NASDAQ:ADVM) After Higher Shorts Reported?

The stock of Adverum Biotechnologies Incorporated (NASDAQ:ADVM) registered an increase of 13.02% in short interest. ADVM’s total short interest was 747,200 shares in November as published by FINRA. Its up 13.02% from 661,100 shares, reported previously. With 156,600 shares average volume, it will take short sellers 5 days to cover their ADVM’s short positions. The short interest to Adverum Biotechnologies Incorporated’s float is 2.66%. About 149,377 shares traded hands. Adverum Biotechnologies Inc (NASDAQ:ADVM) has declined 50.90% since April 21, 2016 and is downtrending. It has underperformed by 56.23% the S&P500.

Adverum Biotechnologies, Inc., formerly Avalanche Biotechnologies, Inc., is a gene therapy company. The company has a market cap of $119.94 million. The Firm is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. It currently has negative earnings. The Firm operates and manages its business in the segment of developing and commercializing gene therapeutics.

ADVM Company Profile

Adverum Biotechnologies, Inc., formerly Avalanche Biotechnologies, Inc., incorporated on July 17, 2006, is a gene therapy company. The Firm is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Firm operates and manages its business in the segment of developing and commercializing gene therapeutics. The Firm is focused on diseases with unmet medical need, including ophthalmic diseases, such as wet age-related macular degeneration (AMD), as well as rare genetic diseases. The Company’s product candidates include AVA-101 and AVA-201 for treatment of Wet AMD; AVA-322 and AVA-323 for the treatment of Color Vision Deficiency, and AVA-311 for the treatment of Juvenile X-linked Retinoschisis (XLRS). It generated human proof-of-concept data for AVA-101 in a Phase I trial with over eight wet AMD subjects conducted at Lions Eye Institute (LEI) in Australia.

More news for Adverum Biotechnologies Inc (NASDAQ:ADVM) were recently published by: Globenewswire.com, which released: “Adverum Biotechnologies, Inc. Reports Third Quarter 2016 Financial Results” on November 08, 2016. Sacbee.com‘s article titled: “Correction: Earns-Adverum Biotechnologies story” and published on November 16, 2016 is yet another important article.

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By Dolores Ford


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