Avrobio Inc (NASDAQ:AVRO) Given Consensus Rating of “Buy” by Brokerages

Avrobio Inc (NASDAQ:AVRO) has earned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $29.07.

A number of brokerages have issued reports on AVRO. Cowen reiterated a “buy” rating on shares of Avrobio in a research note on Monday, July 15th. Mizuho reiterated a “buy” rating and issued a $28.00 price target on shares of Avrobio in a research note on Sunday. Wedbush reiterated an “outperform” rating and issued a $43.00 price target on shares of Avrobio in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Avrobio in a research note on Friday, August 9th. Finally, ValuEngine upgraded Avrobio from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

In related news, Director Bruce Booth acquired 810,811 shares of the company’s stock in a transaction on Friday, July 19th. The stock was acquired at an average price of $18.50 per share, with a total value of $15,000,003.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in Avrobio by 33.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 808,235 shares of the company’s stock valued at $13,142,000 after purchasing an additional 203,484 shares during the period. Morgan Stanley increased its stake in shares of Avrobio by 47.8% during the second quarter. Morgan Stanley now owns 55,777 shares of the company’s stock worth $907,000 after purchasing an additional 18,038 shares in the last quarter. Invesco Ltd. grew its stake in Avrobio by 3.8% during the 2nd quarter. Invesco Ltd. now owns 148,617 shares of the company’s stock valued at $2,416,000 after acquiring an additional 5,506 shares in the last quarter. Vanguard Group Inc. grew its stake in Avrobio by 12.7% during the 2nd quarter. Vanguard Group Inc. now owns 616,917 shares of the company’s stock valued at $10,031,000 after acquiring an additional 69,383 shares in the last quarter. Finally, Farallon Capital Management LLC grew its stake in Avrobio by 15.1% during the 2nd quarter. Farallon Capital Management LLC now owns 1,036,147 shares of the company’s stock valued at $16,848,000 after acquiring an additional 136,147 shares in the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:AVRO traded down $0.38 during midday trading on Thursday, hitting $17.86. The company had a trading volume of 184,554 shares, compared to its average volume of 237,546. The firm has a market cap of $440.50 million, a P/E ratio of -4.93 and a beta of 2.70. Avrobio has a 12-month low of $11.85 and a 12-month high of $53.70. The business has a fifty day simple moving average of $18.59.

Avrobio (NASDAQ:AVRO) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.09. On average, research analysts forecast that Avrobio will post -2.6 earnings per share for the current year.

About Avrobio

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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Analyst Recommendations for Avrobio (NASDAQ:AVRO)

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