Brokerages Anticipate Avrobio Inc (AVRO) Will Announce Earnings of -$0.71 Per Share

Wall Street brokerages expect that Avrobio Inc (NASDAQ:AVRO) will post earnings of ($0.71) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Avrobio’s earnings. The lowest EPS estimate is ($0.76) and the highest is ($0.58). The business is expected to announce its next quarterly earnings results on Monday, June 24th.

On average, analysts expect that Avrobio will report full year earnings of ($2.77) per share for the current financial year, with EPS estimates ranging from ($3.31) to ($1.86). For the next year, analysts anticipate that the firm will post earnings of ($3.00) per share, with EPS estimates ranging from ($3.56) to ($2.14). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Avrobio.

Avrobio (NASDAQ:AVRO) last issued its earnings results on Monday, March 25th. The company reported ($0.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.10).

A number of equities analysts have recently issued reports on the stock. Janney Montgomery Scott assumed coverage on shares of Avrobio in a research note on Friday, April 5th. They set a “buy” rating and a $24.42 price objective on the stock. Leerink Swann dropped their price objective on shares of Avrobio from $27.00 to $19.00 and set a “market perform” rating on the stock in a research note on Thursday, January 17th. Zacks Investment Research downgraded shares of Avrobio from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, HC Wainwright set a $40.00 price objective on shares of Avrobio and gave the company a “buy” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Avrobio has an average rating of “Buy” and an average price target of $31.06.

NASDAQ AVRO opened at $20.69 on Friday. Avrobio has a 52-week low of $11.85 and a 52-week high of $53.70. The company has a market cap of $498.57 million and a PE ratio of -5.72.

In other Avrobio news, insider Geoffrey Mackay sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $27.25, for a total value of $381,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher Paige sold 10,000 shares of the firm’s 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.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Aisling Capital Management LP acquired a new stake in Avrobio in the fourth quarter valued at approximately $12,271,000. BlackRock Inc. boosted its stake in Avrobio by 73.4% in the fourth quarter. BlackRock Inc. now owns 651,959 shares of the company’s stock valued at $10,854,000 after acquiring an additional 276,018 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Avrobio by 65.1% in the third quarter. JPMorgan Chase & Co. now owns 537,322 shares of the company’s stock valued at $27,871,000 after acquiring an additional 211,847 shares in the last quarter. Emerald Advisers LLC boosted its stake in Avrobio by 0.6% in the fourth quarter. Emerald Advisers LLC now owns 380,636 shares of the company’s stock valued at $6,338,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Avrobio by 3.1% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 372,865 shares of the company’s stock valued at $6,208,000 after acquiring an additional 11,328 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

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.

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