Down -28.72% in 4 Weeks, Here's Why Adverum Biotechnologies (ADVM) Looks Ripe for a Turnaround

Core Viewpoint - Adverum Biotechnologies (ADVM) has experienced a significant decline of 28.7% in its stock price over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1]. Group 1: Stock Performance and Indicators - The stock is currently in oversold territory with an RSI reading of 25.4, indicating that the heavy selling pressure may be exhausting itself [4]. - A strong consensus among sell-side analysts has led to a 33% increase in the consensus EPS estimate for ADVM over the last 30 days, which typically correlates with price appreciation [4]. Group 2: Analyst Ratings and Market Position - ADVM holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a near-term turnaround [5].