Avrobio (NASDAQ:AVRO) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Avrobio (NASDAQ:AVRO) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Avrobio, Inc. is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc. is based in MA, United States. “

A number of other research analysts also recently issued reports on the company. HC Wainwright set a $25.00 price target on Onconova Therapeutics and gave the company a buy rating in a report on Tuesday, May 14th. Janney Montgomery Scott initiated coverage on Amicus Therapeutics in a research report on Friday, April 5th. They issued a buy rating and a $13.91 price objective for the company. Mizuho initiated coverage on Avrobio in a research report on Wednesday, June 26th. They issued a buy rating and a $28.00 price objective for the company. Finally, Cowen raised their price objective on WestJet Airlines from C$22.00 to C$31.00 in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $27.90.



Shares of NASDAQ:AVRO opened at $21.99 on Tuesday. Avrobio has a 12-month low of $11.85 and a 12-month high of $53.70. The firm has a fifty day moving average of $15.32.

Avrobio (NASDAQ:AVRO) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.01). As a group, sell-side analysts anticipate that Avrobio will post -2.93 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can acquired a new stake in shares of Avrobio in the 4th quarter worth $34,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Avrobio in the 1st quarter worth $59,000. New York State Common Retirement Fund acquired a new stake in shares of Avrobio in the 4th quarter worth $113,000. Strs Ohio boosted its position in shares of Avrobio by 394.1% in the 1st quarter. Strs Ohio now owns 8,400 shares of the company’s stock worth $185,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Avrobio in the 4th quarter worth $181,000. 71.13% of the stock is owned by hedge funds and other institutional investors.

About Avrobio

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.

Featured Story: Forex

Get a free copy of the Zacks research report on Avrobio (AVRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Avrobio (NASDAQ:AVRO)

Receive News & Ratings for Avrobio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avrobio and related companies with MarketBeat.com's FREE daily email newsletter.