Avrobio Inc (NASDAQ:AVRO) has earned a consensus recommendation of “Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $30.63.
AVRO has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Avrobio in a research report on Friday. Wedbush reiterated an “outperform” rating and set a $43.00 price target on shares of Avrobio in a research report on Friday. Cowen reiterated a “buy” rating on shares of Avrobio in a research report on Monday, July 15th. Zacks Investment Research upgraded Avrobio from a “sell” rating to a “hold” rating and set a $25.00 price target on the stock in a research report on Tuesday, July 23rd. Finally, ValuEngine upgraded Avrobio from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
NASDAQ AVRO remained flat at $$18.32 during trading on Thursday. 112,513 shares of the company’s stock traded hands, compared to its average volume of 238,328. The company has a market cap of $464.59 million, a PE ratio of -5.06 and a beta of 2.70. Avrobio has a 1-year low of $11.85 and a 1-year high of $53.70. The stock has a 50-day moving average price of $18.48.
In related news, Director Bruce Booth purchased 810,811 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were purchased at an average cost of $18.50 per share, for a total transaction of $15,000,003.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. bought a new position in shares of Avrobio in the second quarter worth approximately $336,000. Bank of New York Mellon Corp increased its position in shares of Avrobio by 60.6% in the fourth quarter. Bank of New York Mellon Corp now owns 25,937 shares of the company’s stock worth $431,000 after purchasing an additional 9,782 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Avrobio in the first quarter worth approximately $296,000. Aisling Capital Management LP increased its position in shares of Avrobio by 10.2% in the first quarter. Aisling Capital Management LP now owns 811,998 shares of the company’s stock worth $17,905,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Emerald Advisers LLC increased its position in shares of Avrobio by 61.4% in the first quarter. Emerald Advisers LLC now owns 614,408 shares of the company’s stock worth $13,548,000 after purchasing an additional 233,772 shares during the last quarter. Institutional investors own 71.44% of the company’s stock.
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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