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Adverum Releases Interim Data From Gene Therapy Study For Blindness Disorder, Prepares For Pivotal Study

Adverum Biotechnologies presented 26-week interim data from the LUNA Phase 2 trial for Ixo-vec in wet AMD. The analysis showed significant reductions in anti-VEGF injections and positive visual...

Shares of 4D Molecular Therapeutics Inc. (FDMT) plummeted over 35% to $17.30 by Wednesday afternoon, marking it as the top loser among U.S. stocks. Surprisingly, retail traders remain highly bullish on the stock, with Stocktwits sentiment extremely bullish (85/100) amid extremely high message volumes (95/100).<figure class="image"><img style="aspect-ratio:1308/308;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/FDMT_Sentiment_Meter_On_Jul_17_5f2f85024d.png" alt="FDMT Stocktwits Sentiment Meter On Jul 17" width="1308" height="308"><figcaption>FDMT Stocktwits Sentiment Meter On Jul 17</figcaption></figure>Initially, FDMT shares climbed following the release of encouraging mid-stage clinical study results for its 4D-150 gene therapy, aimed at treating wet age-related macular degeneration (wAMD), a chronic eye disorder that leads to blurred vision or blind spots in central vision.However, the broader market turned its focus to various downside risks, including safety concerns raised by RBC Capital. While the firm maintains 4D-150 is "best in class," it flagged a "safety blip" – one case of inflammation in a patient with a history of syphilis, Investing.com <a href="https://in.investing.com/news/stock-market-news/4d-molecular-therapeutics-tumbles-following-midstage-clinical-study-results-432SI-4316187">reported</a>. BMO Capital lowering the price target further may have added to the pressure.Despite the sell-off, retail investors on Stocktwits seem to view Wednesday’s crash as a buying opportunity. One user noted that 4D’s peers, Ocular Therapeutix Inc. (OCUL), Adverum Biotechnologies Inc (ADVM) and EyePoint Pharmaceuticals Inc. (EYPT), “are taking it on the chin today.”“Obviously, Nasdaq taking it hard today as well. &nbsp;Perhaps, just a general opinion of overvaluation and market fatigue? &nbsp;Very odd stock movement to me, I do expect it will reverse soon,” said Stocktwits user ‘<a href="https://stocktwits.com/ehschunk/message/579821570">ehschunk</a>’.<figure class="image"><img style="aspect-ratio:1318/454;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/FDMT_stocktwits_comment_Jul_17_88b7f49b68.png" alt="Stocktwits user ehschunk's post on FDMT stream" width="1318" height="454"><figcaption>Stocktwits user ehschunk's post on FDMT stream</figcaption></figure>The overall market sentiment didn’t help, as U.S. stocks pulled back from their all-time highs on Wednesday, impacted by falling chip and tech stocks, though the Dow Jones managed its sixth consecutive day of gains.FDMT shares are down over 19% year-to-date, contrasting with OCUL’s impressive 65% rise. EYPT has had an even tougher year, losing 57% so far, while ADVM has lost only 0.18%.However, FDMT’s consistent performance in beating EPS estimates for the past four quarters provides some relief and hope for a rebound among its retail investors.

Wall Street’s Top Loser Today Stays In Retail’s Good Books: Stocktwits Extremely Bullish On FDMT

Despite a 35% drop in shares, retail investors remain bullish on 4D Molecular Therapeutics

Wall Street’s Top Loser Today Remains In Retail’s Good Books

Equity

Despite a 35% drop in shares, retail investors remain bullish on 4D Molecular Therapeutics on promising clinical study results

Adverum Biotechnologies (ADVM, $13.89) Aroon Indicator entered a Downtrend on April 01, 2024.

For the last three days, A.I.dvisor has detected that ADVM's AroonDown red line is above 70 while the AroonUp green line is below 30 for three straight days. This move could indicate a strong...

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Short Interest Update

Adverum Biotechnologies, Inc. (NASDAQ:ADVM  Get Free Report) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 648,500 shares, a...

Adverum Biotechnologies (ADVM, $14.09) Aroon Indicator entered a Downtrend on March 28, 2024.

Adverum Biotechnologies (ADVM, $14.67) Aroon Indicator entered a Downtrend on March 27, 2024.

Adverum Biotechnologies (ADVM, $14.14) Aroon Indicator entered a Downtrend on March 26, 2024.

Adverum Biotechnologies (NASDAQ:ADVM) Upgraded to Hold at StockNews.com

Adverum Biotechnologies (NASDAQ:ADVM  Get Free Report) was upgraded by research analysts at StockNews.com from a sell rating to a hold rating in a research note...

Adverum Biotechnologies (NASDAQ:ADVM) Shares Gap Down to $14.75

Adverum Biotechnologies, Inc. (NASDAQ:ADVM  Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $14.75, but opened at $14.31. Adverum Biotechnologies...

Adverum Biotechnologies (ADVM, $16.06) Aroon Indicator entered a Downtrend on March 22, 2024.

Adverum Biotechnologies, Inc. is a clinical-stage gene therapy company that engages in the development of gene therapies for ocular and rare diseases. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr., Mitchell H. Finer, and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Redwood City, CA.

Volume	300,745.00
52-Wk High	$29.70
52-Wk Low	$6.38

ADVM Adverum Biotechnologies Inc

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