AVROBIO, Inc. (NASDAQ:AVRO) Given Average Recommendation of “Buy” by Analysts

Shares of AVROBIO, Inc. (NASDAQ:AVRO) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $25.40.

AVRO has been the topic of a number of recent research reports. Morgan Stanley cut their target price on AVROBIO from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Friday, July 16th. BTIG Research reiterated a “buy” rating and issued a $23.00 target price on shares of AVROBIO in a research note on Friday, August 6th. Needham & Company LLC initiated coverage on AVROBIO in a research note on Thursday, May 27th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Zacks Investment Research upgraded AVROBIO from a “sell” rating to a “hold” rating in a research note on Monday, September 6th.

In related news, Director Philip J. Vickers purchased 4,800 shares of the company’s stock in a transaction that occurred on Wednesday, July 7th. The shares were purchased at an average price of $8.35 per share, with a total value of $40,080.00. Following the purchase, the director now owns 4,800 shares of the company’s stock, valued at approximately $40,080. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. ClariVest Asset Management LLC increased its stake in AVROBIO by 5.5% in the 1st quarter. ClariVest Asset Management LLC now owns 23,200 shares of the company’s stock worth $294,000 after purchasing an additional 1,200 shares in the last quarter. ProShare Advisors LLC grew its stake in AVROBIO by 10.7% during the 2nd quarter. ProShare Advisors LLC now owns 16,916 shares of the company’s stock valued at $150,000 after acquiring an additional 1,638 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in AVROBIO by 122.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 3,172 shares of the company’s stock valued at $40,000 after acquiring an additional 1,746 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in AVROBIO by 10.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 21,855 shares of the company’s stock valued at $277,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in AVROBIO by 112.4% during the 1st quarter. Royal Bank of Canada now owns 4,274 shares of the company’s stock valued at $55,000 after acquiring an additional 2,262 shares in the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AVRO opened at $6.22 on Tuesday. The business’s fifty day moving average price is $6.72 and its 200 day moving average price is $9.05. AVROBIO has a 12-month low of $5.44 and a 12-month high of $20.07. The stock has a market capitalization of $271.34 million, a PE ratio of -1.99 and a beta of 1.34.

AVROBIO (NASDAQ:AVRO) last announced its quarterly earnings data on Wednesday, August 4th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($0.08). Sell-side analysts predict that AVROBIO will post -2.86 EPS for the current year.

AVROBIO Company Profile

Avrobio, Inc engages in the development of lentiviral-based gene therapies. It focuses on developing potentially curative ex vivo lentiviral-based gene therapies to treat patients with rare diseases following a single dose treatment regimen. The firm’s clinical-stage programs include Fabry, Gaucher Type 1, Hunter syndrome Gaucher Type 3, Pompe, and Cystinosis.

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Analyst Recommendations for AVROBIO (NASDAQ:AVRO)

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