Avrobio (NASDAQ:AVRO) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Avrobio (NASDAQ:AVRO) in a research report sent to investors on Tuesday, TipRanks reports. They currently have a $35.00 price target on the stock.

AVRO has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Avrobio from a hold rating to a buy rating and set a $23.00 price target for the company in a research report on Tuesday, February 4th. Mizuho upped their price target on shares of Avrobio from to and gave the stock a buy rating in a research report on Tuesday. Nomura started coverage on shares of Avrobio in a research report on Monday, October 28th. They issued a buy rating and a $35.00 price target for the company. Janney Montgomery Scott reiterated a buy rating on shares of Avrobio in a research report on Friday, November 8th. Finally, ValuEngine lowered shares of Avrobio from a hold rating to a sell rating in a research report on Saturday, January 18th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $33.63.

AVRO opened at $24.16 on Tuesday. The firm has a market cap of $728.34 million, a P/E ratio of -9.19 and a beta of 2.73. Avrobio has a 1-year low of $12.67 and a 1-year high of $29.32. The company has a 50 day simple moving average of $21.51 and a two-hundred day simple moving average of $18.30.

In other news, insider Geoffrey Mackay sold 63,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $27.57, for a total value of $1,736,910.00. Following the sale, the insider now owns 364,927 shares of the company’s stock, valued at $10,061,037.39. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christopher Paige sold 15,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $28.00, for a total transaction of $420,000.00. Following the completion of the sale, the director now directly owns 252,512 shares in the company, valued at approximately $7,070,336. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,000 shares of company stock valued at $2,386,910. Company insiders own 4.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AVRO. BlackRock Inc. grew its stake in shares of Avrobio by 16.6% during the 2nd quarter. BlackRock Inc. now owns 1,221,741 shares of the company’s stock worth $19,866,000 after purchasing an additional 174,121 shares during the period. Vanguard Group Inc. grew its stake in Avrobio by 12.7% in 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 during the period. Invesco Ltd. grew its stake in Avrobio by 3.8% in 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 during the period. Morgan Stanley grew its stake in Avrobio by 47.8% in the 2nd quarter. Morgan Stanley now owns 55,777 shares of the company’s stock valued at $907,000 after acquiring an additional 18,038 shares during the period. Finally, CWM LLC acquired a new stake in Avrobio in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 77.99% of the company’s stock.

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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