REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Adverum Biotechnologies Inc. (ADVM) on Thursday reported a loss of $24.8 million in its first quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of $1.50.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.28 per share.
Adverum Biotechnologies shares have risen 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.61, an increase of 19% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADVM at https://www.zacks.com/ap/ADVM
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
