Spark Investment Management LLC Has $837,000 Stake in Avrobio Inc (AVRO)

Spark Investment Management LLC increased its stake in shares of Avrobio Inc (NASDAQ:AVRO) by 91.0% during the first quarter, Holdings Channel reports. The fund owned 38,000 shares of the company’s stock after purchasing an additional 18,100 shares during the period. Spark Investment Management LLC’s holdings in Avrobio were worth $837,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AVRO. American International Group Inc. increased its position in Avrobio by 102.2% during the first quarter. American International Group Inc. now owns 8,111 shares of the company’s stock worth $179,000 after buying an additional 4,100 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Avrobio by 40.2% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 522,590 shares of the company’s stock worth $11,523,000 after buying an additional 149,725 shares during the last quarter. Victory Capital Management Inc. increased its position in Avrobio by 4,614.3% during the first quarter. Victory Capital Management Inc. now owns 136,761 shares of the company’s stock worth $3,016,000 after buying an additional 133,860 shares during the last quarter. Rhumbline Advisers acquired a new position in Avrobio during the first quarter worth approximately $296,000. Finally, Emerald Advisers LLC increased its position in Avrobio by 61.4% during the first quarter. Emerald Advisers LLC now owns 614,408 shares of the company’s stock worth $13,548,000 after buying an additional 233,772 shares during the last quarter. 73.82% of the stock is currently owned by institutional investors and hedge funds.

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 filing with the SEC, which is available at this hyperlink. 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. 4.70% of the stock is currently owned by corporate insiders.

Avrobio stock opened at $16.12 on Wednesday. Avrobio Inc has a 12 month low of $11.85 and a 12 month high of $53.70. The company has a market capitalization of $432.77 million and a PE ratio of -4.45.

Avrobio (NASDAQ:AVRO) last posted its earnings results on Monday, May 13th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.01). Sell-side analysts expect that Avrobio Inc will post -2.83 EPS for the current fiscal year.

A number of brokerages have weighed in on AVRO. HC Wainwright set a $40.00 price target on Avrobio and gave the stock a “buy” rating in a research report on Monday, April 22nd. Janney Montgomery Scott began coverage on Avrobio in a research report on Friday, April 5th. They set a “buy” rating and a $24.42 price target on the stock. Cowen reissued a “buy” rating on shares of Avrobio in a research report on Tuesday, May 14th. Finally, Zacks Investment Research downgraded Avrobio from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $31.06.

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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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Institutional Ownership by Quarter for Avrobio (NASDAQ:AVRO)

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