Avrobio (NASDAQ:AVRO) has been given a $40.00 target price by HC Wainwright in a research note issued on Monday, TipRanks reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 99.60% from the stock’s current price.
A number of other analysts have also recently weighed in on AVRO. Zacks Investment Research raised shares of Avrobio from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, January 15th. Leerink Swann dropped their price objective on shares of Avrobio from $27.00 to $19.00 and set a “market perform” rating on the stock in a report on Thursday, January 17th. Finally, Janney Montgomery Scott initiated coverage on shares of Avrobio in a report on Friday, April 5th. They issued a “buy” rating and a $24.42 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $31.06.
AVRO stock opened at $20.04 on Monday. Avrobio has a fifty-two week low of $11.85 and a fifty-two week high of $53.70. The stock has a market capitalization of $482.44 million and a P/E ratio of -5.54.
In related news, Director Christopher Paige sold 10,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $25.72, for a total value of $257,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geoffrey Mackay sold 14,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $27.25, for a total transaction of $381,500.00. The disclosure for this sale can be found here.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC bought a new position in Avrobio in the 3rd quarter valued at about $593,000. Legal & General Group Plc bought a new position in Avrobio in the 3rd quarter valued at about $48,000. MetLife Investment Advisors LLC bought a new position in Avrobio in the 3rd quarter valued at about $410,000. Emerald Mutual Fund Advisers Trust grew its position in Avrobio by 3.1% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 372,865 shares of the company’s stock valued at $6,208,000 after buying an additional 11,328 shares in the last quarter. Finally, Vanguard Group Inc grew its position in Avrobio by 374.5% in the 3rd quarter. Vanguard Group Inc now owns 246,738 shares of the company’s stock valued at $12,798,000 after buying an additional 194,738 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.
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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