Avrobio (AVRO) Stock Rating Lowered by Zacks Investment Research

Avrobio (NASDAQ:AVRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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 research analysts have also commented on AVRO. ValuEngine lowered shares of Avrobio from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Leerink Swann started coverage on shares of Avrobio in a research note on Tuesday, November 27th. They issued a “market perform” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Avrobio in a research note on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.17.

NASDAQ:AVRO opened at $13.73 on Tuesday. Avrobio has a 52 week low of $11.85 and a 52 week high of $53.70.

Avrobio (NASDAQ:AVRO) last posted its quarterly earnings data on Tuesday, November 13th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.91) by $0.42. Research analysts forecast that Avrobio will post -3.18 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in shares of Avrobio during the 3rd quarter valued at $48,000. Great West Life Assurance Co. Can acquired a new position in shares of Avrobio during the 4th quarter valued at $34,000. Northern Trust Corp lifted its position in shares of Avrobio by 2.8% during the 4th quarter. Northern Trust Corp now owns 79,211 shares of the company’s stock valued at $1,319,000 after acquiring an additional 2,170 shares during the period. Emerald Advisers LLC lifted its position in shares of Avrobio by 0.6% during the 4th 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 during the period. Finally, American International Group Inc. acquired a new position in shares of Avrobio during the 3rd quarter valued at $210,000. Institutional investors own 66.85% 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. 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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Analyst Recommendations for Avrobio (NASDAQ:AVRO)

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