Avrobio (NASDAQ:AVRO) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Avrobio (NASDAQ:AVRO) from a buy rating to a hold rating in a report issued on Wednesday, 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 equities research analysts have also recently issued reports on the company. HC Wainwright reaffirmed a buy rating and set a $35.00 target price on shares of Avrobio in a research report on Tuesday, February 11th. Morgan Stanley upped their target price on Avrobio from $37.00 to $40.00 and gave the stock an overweight rating in a research report on Wednesday, February 12th. Janney Montgomery Scott reaffirmed a buy rating on shares of Avrobio in a research report on Friday, November 8th. ValuEngine cut Avrobio from a hold rating to a sell rating in a research report on Saturday, January 18th. Finally, Nomura upped their target price on Avrobio from to in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Avrobio has an average rating of Buy and an average price target of $34.35.

Shares of Avrobio stock opened at $22.75 on Wednesday. The stock has a 50 day moving average price of $21.99 and a two-hundred day moving average price of $18.38. Avrobio has a 12-month low of $12.67 and a 12-month high of $29.32.

In other news, insider Geoffrey Mackay sold 63,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $27.57, for a total value of $1,736,910.00. Following the completion of the sale, the insider now directly owns 364,927 shares of the company’s stock, valued at $10,061,037.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher Paige sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $23.00, for a total value of $230,000.00. Following the completion of the sale, the director now directly owns 267,512 shares of the company’s stock, valued at $6,152,776. The disclosure for this sale can be found here. Insiders have sold 88,000 shares of company stock valued at $2,386,910 in the last ninety days. Company insiders own 4.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AVRO. Vanguard Group Inc. boosted its position in shares of Avrobio by 12.7% in the second quarter. Vanguard Group Inc. now owns 616,917 shares of the company’s stock valued at $10,031,000 after acquiring an additional 69,383 shares during the period. Morgan Stanley boosted its position in shares of Avrobio by 47.8% in the second quarter. Morgan Stanley now owns 55,777 shares of the company’s stock valued at $907,000 after acquiring an additional 18,038 shares during the period. CWM LLC bought a new stake in shares of Avrobio in the third quarter valued at approximately $28,000. Rhumbline Advisers boosted its position in shares of Avrobio by 14.0% in the third quarter. Rhumbline Advisers now owns 20,894 shares of the company’s stock valued at $295,000 after acquiring an additional 2,568 shares during the period. Finally, Emerald Advisers LLC boosted its position in shares of Avrobio by 9.7% in the third quarter. Emerald Advisers LLC now owns 658,056 shares of the company’s stock valued at $9,292,000 after acquiring an additional 58,058 shares during the period. 78.76% of the stock is 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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