Avrobio (NASDAQ:AVRO) Trading Up 7.5%

Avrobio Inc (NASDAQ:AVRO)’s stock price rose 7.5% on Wednesday . The company traded as high as $19.95 and last traded at $19.83, approximately 100,416 shares changed hands during mid-day trading. A decline of 20% from the average daily volume of 125,042 shares. The stock had previously closed at $18.45.

AVRO has been the topic of a number of analyst reports. ValuEngine cut Avrobio from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Avrobio in a research note on Friday, November 8th. Zacks Investment Research raised shares of Avrobio from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Nomura assumed coverage on shares of Avrobio in a report on Monday, October 28th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Janney Montgomery Scott reissued a “buy” rating on shares of Avrobio in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Avrobio has an average rating of “Buy” and an average target price of $28.92.

The stock has a fifty day moving average price of $19.58 and a 200-day moving average price of $17.70. The company has a market cap of $721.69 million, a PE ratio of -6.29 and a beta of 2.76.

Avrobio (NASDAQ:AVRO) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.02. As a group, research analysts predict that Avrobio Inc will post -2.54 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Avrobio by 10.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 50,039 shares of the company’s stock worth $814,000 after acquiring an additional 4,820 shares during the period. State Street Corp grew its stake in Avrobio by 150.0% during the 3rd quarter. State Street Corp now owns 644,592 shares of the company’s stock valued at $9,102,000 after acquiring an additional 386,724 shares in the last quarter. California State Teachers Retirement System grew its stake in Avrobio by 33.0% during the 3rd quarter. California State Teachers Retirement System now owns 32,111 shares of the company’s stock valued at $453,000 after acquiring an additional 7,964 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Avrobio in the 3rd quarter valued at about $403,000. Finally, Tang Capital Management LLC purchased a new stake in shares of Avrobio in the third quarter worth approximately $11,707,000. 77.79% of the stock is owned by hedge funds and other institutional investors.

Avrobio Company Profile (NASDAQ:AVRO)

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.

Further Reading: Growth Stocks

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