The initiation of coverage by HC Wainwright & Co. with a Buy rating and a high price target of $30 is a strong positive signal for Adverum Biotechnologies. This endorsement from a reputable analyst firm can lead to increased investor confidence and potentially drive the stock price up in the short term. The specific mention of a $30 price target, significantly above current levels, suggests a bullish outlook on the company's prospects, which can attract more buyers to the stock.