HC Wainwright set a $40.00 target price on Avrobio (NASDAQ:AVRO) in a report issued on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.
Other analysts also recently issued research reports about the stock. Cowen reaffirmed a buy rating on shares of Avrobio in a research note on Tuesday. Janney Montgomery Scott started coverage on shares of Avrobio in a research note on Friday, April 5th. They set a buy rating and a $24.42 price target for the company. Zacks Investment Research raised shares of Avrobio from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Tuesday, January 15th. Finally, Leerink Swann decreased their price target on shares of Avrobio from $27.00 to $19.00 and set a market perform rating for the company in a research note on Thursday, January 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $31.06.
Avrobio stock opened at $18.21 on Tuesday. Avrobio has a fifty-two week low of $11.85 and a fifty-two week high of $53.70. The company has a market cap of $461.71 million and a PE ratio of -5.03.
In related news, insider Geoffrey Mackay sold 14,000 shares of Avrobio stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $27.25, for a total transaction of $381,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher Paige sold 10,000 shares of Avrobio stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $25.72, for a total transaction of $257,200.00. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of AVRO. Aisling Capital Management LP purchased a new position in Avrobio during the fourth quarter valued at approximately $12,271,000. JPMorgan Chase & Co. increased its holdings in Avrobio by 90.8% during the first quarter. JPMorgan Chase & Co. now owns 1,224,455 shares of the company’s stock valued at $26,999,000 after buying an additional 582,639 shares during the period. BlackRock Inc. increased its holdings in Avrobio by 60.7% during the first quarter. BlackRock Inc. now owns 1,047,620 shares of the company’s stock valued at $23,100,000 after buying an additional 395,661 shares during the period. Emerald Advisers LLC increased its holdings in Avrobio by 61.4% during the first quarter. Emerald Advisers LLC now owns 614,408 shares of the company’s stock valued at $13,548,000 after buying an additional 233,772 shares during the period. Finally, Vanguard Group Inc increased its holdings in Avrobio by 374.5% during the third 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 during the period. 73.82% of the stock is currently owned by 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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