Avrobio (NASDAQ:AVRO) Lowered to “Hold” at BidaskClub

Avrobio (NASDAQ:AVRO) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, BidAskClub reports.

Several other research firms have also recently commented on AVRO. Cowen reaffirmed a “buy” rating on shares of Avrobio in a research report on Monday, March 16th. HC Wainwright reaffirmed a “hold” rating and set a $13.00 price objective on shares of Avrobio in a research report on Thursday, May 14th. Mizuho reissued a “buy” rating and issued a $35.00 target price on shares of Avrobio in a research report on Friday, May 8th. Morgan Stanley lowered their target price on Avrobio from $40.00 to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Finally, Zacks Investment Research raised Avrobio from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.83.

NASDAQ AVRO opened at $17.56 on Wednesday. The stock has a market cap of $632.78 million, a P/E ratio of -6.43 and a beta of 1.75. Avrobio has a fifty-two week low of $9.76 and a fifty-two week high of $29.32. The stock has a 50 day simple moving average of $19.61 and a two-hundred day simple moving average of $18.68.

Avrobio (NASDAQ:AVRO) last announced its earnings results on Thursday, May 7th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.11). Equities analysts forecast that Avrobio will post -3.15 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Avrobio in the 4th quarter worth approximately $26,000. Great West Life Assurance Co. Can bought a new stake in Avrobio in the fourth quarter worth $28,000. Marshall Wace LLP purchased a new stake in shares of Avrobio in the fourth quarter worth $30,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Avrobio during the first quarter valued at $30,000. Finally, Royal Bank of Canada raised its position in shares of Avrobio by 43.3% in the 1st quarter. Royal Bank of Canada now owns 1,979 shares of the company’s stock worth $31,000 after purchasing an additional 598 shares during the last quarter. 82.27% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Avrobio (NASDAQ:AVRO)

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