Wang & Lee Group board approves 250-to-1 reverse share split
In a challenging year for Avalanche Biotechnologies (ADVM), the biotech firm’s stock has hit a 52-week low, trading at $3.84. According to InvestingPro data, while the company maintains a strong current ratio of 5.82 and holds more cash than debt, analysts have revised their earnings expectations downward for the upcoming period. This price level reflects a significant downturn for the company, with the stock experiencing a precipitous 1-year change, plummeting by -80.53%. Investors have watched with concern as ADVM’s shares have steadily declined, reaching this low point and marking a tough phase for the company amidst a volatile market for biotech stocks. The 52-week low serves as a stark indicator of the hurdles Avalanche Biotechnologies faces as it seeks to regain its footing and investor confidence in the coming months. InvestingPro analysis reveals 13 additional key insights about ADVM’s financial health and future prospects, available in the comprehensive Pro Research Report.
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