Avrobio (AVRO) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Avrobio (NASDAQ:AVRO) from a hold rating to a sell rating in a research note published on Tuesday.

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 analysts have also weighed in on the company. Leerink Swann lowered their price objective on Avrobio from $27.00 to $19.00 and set a market perform rating on the stock in a research note on Thursday, January 17th. HC Wainwright reissued a buy rating on shares of Avrobio in a research note on Tuesday, January 15th. Finally, ValuEngine lowered Avrobio from a buy rating to a hold rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $32.17.

NASDAQ AVRO opened at $14.36 on Tuesday. Avrobio has a fifty-two week low of $11.85 and a fifty-two week high of $53.70.

Avrobio (NASDAQ:AVRO) last released its quarterly earnings data on Tuesday, November 13th. The company reported ($0.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.91) by $0.42. Sell-side analysts predict that Avrobio will post -3.18 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can acquired a new position in shares of Avrobio in the 4th quarter valued at $34,000. Legal & General Group Plc acquired a new position in shares of Avrobio in the 3rd quarter valued at $48,000. New York State Common Retirement Fund acquired a new position in shares of Avrobio in the 4th quarter valued at $113,000. Virtus ETF Advisers LLC acquired a new position in shares of Avrobio in the 4th quarter valued at $204,000. Finally, American International Group Inc. acquired a new position in shares of Avrobio in the 3rd quarter valued at $210,000. 66.85% of the stock is currently owned by 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. The company's gene therapies employ hematopoietic stem cells that are extracted from the patient and modified with lentiviral vectors to insert a functional copy of the gene that is defective in the target disease.

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