A Reversal for Adverum Biotechnologies Inc (NASDAQ:ADVM) Is Not Near. The Stock Has Rise in Shorts

March 17, 2018 - By Peter Erickson

 A Reversal for Adverum Biotechnologies Inc (NASDAQ:ADVM) Is Not Near. The Stock Has Rise in Shorts

The stock of Adverum Biotechnologies Inc (NASDAQ:ADVM) registered an increase of 121.57% in short interest. ADVM’s total short interest was 1.05M shares in March as published by FINRA. Its up 121.57% from 474,700 shares, reported previously. With 2.13 million shares average volume, it will take short sellers 1 days to cover their ADVM’s short positions. The short interest to Adverum Biotechnologies Inc’s float is 4.32%.

The stock decreased 5.26% or $0.4 during the last trading session, reaching $7.2. About 1.32 million shares traded. Adverum Biotechnologies, Inc. (NASDAQ:ADVM) has declined 30.48% since March 17, 2017 and is downtrending. It has underperformed by 47.18% 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 $447.65 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.

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