Adverum Biotechnologies: Promising Gene Therapy Developments and Financial Stability Justify Buy Rating

H.C. Wainwright analyst Matthew Caufield has reiterated their bullish stance on ADVM stock, giving a Buy rating yesterday.

Matthew Caufield has given his Buy rating due to a combination of factors related to Adverum Biotechnologies’ promising developments in their gene therapy program for wet AMD. The initiation of the Phase 3 ARTEMIS trial in March 2025, which includes both treatment-naïve and previously treated patients, is a significant milestone. This trial aims to demonstrate the non-inferiority of a single Ixo-vec administration compared to the standard aflibercept treatment, potentially offering a more durable and less burdensome option for patients.
Additionally, the ongoing Phase 2 LUNA trial has shown promising results, with a significant reduction in treatment burden and injection freedom for patients receiving the Ixo-vec therapy. The company’s financial position, with $125.7 million in cash and equivalents, is expected to support operations into the second half of 2025, allowing them to continue advancing their pivotal program. These factors collectively support the potential for Ixo-vec to transform the treatment landscape for wet AMD, justifying the Buy rating.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADVM in relation to earlier this year.