Zacks Investment Research Downgrades AVROBIO (NASDAQ:AVRO) to Hold

AVROBIO (NASDAQ:AVRO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, 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. “

Several other equities analysts have also recently commented on the stock. Stifel Nicolaus started coverage on shares of AVROBIO in a research note on Monday, March 8th. They set a “hold” rating and a $14.00 price objective for the company. Barclays began coverage on shares of AVROBIO in a report on Monday, March 15th. They issued an “overweight” rating and a $23.00 price target on the stock. Finally, SVB Leerink reissued a “hold” rating and set a $18.00 price objective on shares of AVROBIO in a research note on Sunday, March 21st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.56.

NASDAQ:AVRO opened at $10.49 on Monday. The company has a market cap of $436.61 million, a P/E ratio of -3.18 and a beta of 1.41. AVROBIO has a 1 year low of $9.94 and a 1 year high of $23.50. The stock’s fifty day moving average price is $11.91 and its two-hundred day moving average price is $13.94.

AVROBIO (NASDAQ:AVRO) last issued its quarterly earnings data on Wednesday, March 17th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.17. Equities analysts forecast that AVROBIO will post -3.45 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its stake in AVROBIO by 93.6% in the first quarter. Pacer Advisors Inc. now owns 2,317 shares of the company’s stock worth $29,000 after purchasing an additional 1,120 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of AVROBIO in the fourth quarter worth $229,000. JPMorgan Chase & Co. boosted its position in AVROBIO by 24.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,505,745 shares of the company’s stock valued at $62,810,000 after buying an additional 870,763 shares during the period. Morgan Stanley boosted its position in AVROBIO by 369.9% during the 4th quarter. Morgan Stanley now owns 273,586 shares of the company’s stock valued at $3,814,000 after buying an additional 215,362 shares during the period. Finally, Tudor Investment Corp Et Al bought a new position in shares of AVROBIO during the fourth quarter valued at about $686,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

About AVROBIO

AVROBIO, Inc, a clinical-stage gene therapy company, develops ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose worldwide. 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 that is defective in the target disease.

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