Citigroup Inc. raised its stake in Avrobio Inc (NASDAQ:AVRO) by 264.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,107 shares of the company’s stock after buying an additional 9,514 shares during the quarter. Citigroup Inc. owned about 0.05% of Avrobio worth $218,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AVRO. Bank of New York Mellon Corp grew its stake in Avrobio by 60.6% during the 4th quarter. Bank of New York Mellon Corp now owns 25,937 shares of the company’s stock valued at $431,000 after purchasing an additional 9,782 shares during the last quarter. BlackRock Inc. grew its stake in Avrobio by 73.4% during the 4th quarter. BlackRock Inc. now owns 651,959 shares of the company’s stock valued at $10,854,000 after purchasing an additional 276,018 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Avrobio during the 4th quarter valued at about $113,000. Aisling Capital Management LP purchased a new stake in Avrobio during the 4th quarter valued at about $12,271,000. Finally, Virtus ETF Advisers LLC purchased a new stake in Avrobio during the 4th quarter valued at about $204,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Avrobio stock opened at $20.71 on Tuesday. Avrobio Inc has a 12 month low of $11.85 and a 12 month high of $53.70. The company has a market cap of $520.63 million and a price-to-earnings ratio of -5.72.
Several research firms have weighed in on AVRO. Zacks Investment Research downgraded Avrobio from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Janney Montgomery Scott started coverage on Avrobio in a report on Friday, April 5th. They issued a “buy” rating and a $24.42 price objective for the company. Leerink Swann decreased their price objective on Avrobio from $27.00 to $19.00 and set a “market perform” rating for the company in a report on Thursday, January 17th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Avrobio in a report on Tuesday, January 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.06.
In other news, Director Christopher Paige sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $25.72, for a total value of $257,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geoffrey Mackay sold 14,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $27.25, for a total value of $381,500.00. The disclosure for this sale can be found here.
Avrobio Company Profile
AVROBIO, Inc, a clinical-stage gene therapy company, focuses on developing ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose in the United States. Its gene therapies employ hematopoietic stem cells that are collected from patients and modified with a lentiviral vector to insert functional copies of the gene, which is defective in the target disease.
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