Apple, Cirrus Logic, GoPro, and More: Here’s Why These Stocks Are On the Move

Adverum Biotechnologies Inc. (NASDAQ:ADVM) shares are down almost 30% after the company disclosed that protein expression in its ADVANCE Phase 1/2 Study in A1AT deficiency did not meet a clinical meaningful level. Due to the results, the company announced that it will discontinue the development of ADVM-043. Nevertheless, the company remains on track to initiate an OPTIC clinical trial for ADVM-022 in the fourth quarter. The number of elite funds we track long Adverum Biotechnologies Inc. (NASDAQ:ADVM) fell from 28 to 22 quarter over quarter.

Chemours Co (NYSE:CC) shares are off 4% after the company turned in a mixed earnings report. For the third quarter, the company reported adjusted earnings of $1.49 per share, ahead of the estimate of of $1.42 per share. Sales were $1.6 billion, slightly under the consensus of $1.71 billion. In terms of guidance, management expects adjusted EBITDA in the lower half of the original guidance range of $1.7-$1.85 billion for FY 2018 due in part to lower Ti-Pure titanium dioxide volume. Adjusted EPS is expected to be between $5.1-$5.85 for the same time period. 31 elite funds we long over three quarters of a billion dollars worth of Chemours Co  (NYSE:CC) at the end of June.

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