Avrobio (NASDAQ:AVRO) Stock Price Down 6.2%

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Avrobio Inc (NASDAQ:AVRO) dropped 6.2% on Friday . The stock traded as low as $21.41 and last traded at $21.99, approximately 771,199 shares changed hands during trading. An increase of 244% from the average daily volume of 224,024 shares. The stock had previously closed at $23.44.

AVRO has been the topic of several analyst reports. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday. Janney Montgomery Scott initiated coverage on Amicus Therapeutics in a research report on Friday, April 5th. They set a “buy” rating and a $13.91 target price on the stock. Cowen reissued a “buy” rating on shares of Avrobio in a research report on Monday. Mizuho initiated coverage on Avrobio in a research report on Wednesday, June 26th. They set a “buy” rating and a $28.00 target price on the stock. Finally, HC Wainwright set a $25.00 target price on Onconova Therapeutics and gave the company a “buy” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.90.

The stock’s 50-day simple moving average is $15.32. The firm has a market capitalization of $552.97 million and a P/E ratio of -6.07.

Avrobio (NASDAQ:AVRO) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.01). As a group, research analysts predict that Avrobio Inc will post -2.93 EPS for the current year.

A number of institutional investors have recently made changes to their positions in AVRO. Great West Life Assurance Co. Can bought a new position in shares of Avrobio during the 4th quarter worth $34,000. BNP Paribas Arbitrage SA bought a new position in shares of Avrobio during the 1st quarter worth $59,000. New York State Common Retirement Fund bought a new position in shares of Avrobio during the 4th quarter worth $113,000. Strs Ohio grew its position in shares of Avrobio by 394.1% during the 1st quarter. Strs Ohio now owns 8,400 shares of the company’s stock worth $185,000 after buying an additional 6,700 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Avrobio during the 4th quarter worth $181,000. 71.13% of the stock is currently owned by institutional investors.

About Avrobio (NASDAQ:AVRO)

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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