REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Adverum Biotechnologies Inc. (ADVM) on Wednesday reported a loss of $47 million in its first quarter.
The Redwood City, California-based company said it had a loss of $2.25 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.92 per share.
In the final minutes of trading on Wednesday, the company’s shares hit $2.06. A year ago, they were trading at $8.93.
_____
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 © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
