Avrobio Inc (NASDAQ:AVRO) Short Interest Up 17.9% in July

Avrobio Inc (NASDAQ:AVRO) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 991,600 shares, a growth of 17.9% from the June 30th total of 841,200 shares. Approximately 7.5% of the company’s shares are short sold. Based on an average trading volume of 321,800 shares, the short-interest ratio is presently 3.1 days.

In related news, Director Bruce Booth bought 810,811 shares of the company’s stock in a transaction on Friday, July 19th. The shares were acquired at an average cost of $18.50 per share, for a total transaction of $15,000,003.50. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AVRO. BNP Paribas Arbitrage SA acquired a new stake in Avrobio in the first quarter valued at approximately $59,000. Squarepoint Ops LLC acquired a new stake in Avrobio in the fourth quarter valued at approximately $181,000. Strs Ohio boosted its stake in Avrobio by 394.1% in the first quarter. Strs Ohio now owns 8,400 shares of the company’s stock valued at $185,000 after acquiring an additional 6,700 shares in the last quarter. Rhumbline Advisers acquired a new stake in Avrobio in the first quarter valued at approximately $296,000. Finally, Virtus ETF Advisers LLC boosted its stake in Avrobio by 81.5% in the second quarter. Virtus ETF Advisers LLC now owns 19,695 shares of the company’s stock valued at $320,000 after acquiring an additional 8,845 shares in the last quarter. Institutional investors own 71.44% of the company’s stock.

A number of research firms have recently issued reports on AVRO. Mizuho reiterated a “buy” rating and set a $28.00 price objective on shares of Avrobio in a research note on Sunday. Cowen reiterated a “buy” rating on shares of Avrobio in a research note on Monday, July 15th. ValuEngine upgraded shares of Avrobio from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Avrobio from a “sell” rating to a “hold” rating and set a $25.00 price objective on the stock in a research note on Tuesday, July 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 price objective on shares of Avrobio in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $29.07.

AVRO traded down $0.42 during trading on Wednesday, hitting $17.90. The stock had a trading volume of 1,539 shares, compared to its average volume of 238,328. The stock has a market cap of $464.59 million, a P/E ratio of -4.94 and a beta of 2.70. Avrobio has a twelve month low of $11.85 and a twelve month high of $53.70. The business’s 50 day simple moving average is $18.55.

Avrobio (NASDAQ:AVRO) last announced its earnings results on Thursday, August 8th. The company reported ($0.67) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.09. Research analysts predict that Avrobio will post -2.83 EPS for the current fiscal year.

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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