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Adverum Biotechnologies: 3Q Earnings Snapshot

·1 min read

REDWOOD CITY, Calif. (AP) _ Adverum Biotechnologies Inc. (ADVM) on Thursday reported a loss of $27.8 million in its third quarter.

On a per-share basis, the Redwood City, California-based company said it had a loss of 31 cents.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.

Adverum Biotechnologies shares have increased nearly 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.18, an increase of 53% in the last 12 months.

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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