Avrobio Inc (NASDAQ:AVRO) Expected to Announce Earnings of -$0.59 Per Share

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Wall Street brokerages expect Avrobio Inc (NASDAQ:AVRO) to report earnings per share of ($0.59) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Avrobio’s earnings. The highest EPS estimate is ($0.54) and the lowest is ($0.70). Avrobio posted earnings of ($0.49) per share in the same quarter last year, which would suggest a negative year over year growth rate of 20.4%. The business is expected to report its next earnings results on Tuesday, November 12th.

On average, analysts expect that Avrobio will report full-year earnings of ($2.52) per share for the current year, with EPS estimates ranging from ($2.81) to ($2.15). For the next financial year, analysts forecast that the company will report earnings of ($2.68) per share, with EPS estimates ranging from ($2.94) to ($2.16). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Avrobio.

Avrobio (NASDAQ:AVRO) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.67) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.09.

A number of equities research analysts have commented on AVRO shares. Cowen restated a “buy” rating on shares of Avrobio in a research report on Monday, July 15th. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Avrobio in a report on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Avrobio in a research note on Friday, August 9th. Mizuho reiterated a “buy” rating and issued a $28.00 price objective on shares of Avrobio in a research report on Sunday, August 11th. Finally, Zacks Investment Research downgraded Avrobio from a “buy” rating to a “hold” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Avrobio presently has an average rating of “Buy” and an average price target of $29.07.

NASDAQ AVRO traded down $0.62 during trading on Thursday, reaching $18.20. 104,200 shares of the company’s stock were exchanged, compared to its average volume of 229,186. Avrobio has a fifty-two week low of $11.85 and a fifty-two week high of $53.70. The firm has a market capitalization of $447.69 million, a PE ratio of -5.03 and a beta of 2.72. The company’s fifty day simple moving average is $19.29 and its 200-day simple moving average is $18.27.

In related news, Director Bruce Booth acquired 810,811 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was acquired at an average price of $18.50 per share, for a total transaction of $15,000,003.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVRO. JPMorgan Chase & Co. grew its stake in Avrobio by 90.8% in the first quarter. JPMorgan Chase & Co. now owns 1,224,455 shares of the company’s stock valued at $26,999,000 after acquiring an additional 582,639 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Avrobio by 33.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 808,235 shares of the company’s stock worth $13,142,000 after buying an additional 203,484 shares during the period. BlackRock Inc. boosted its position in shares of Avrobio by 16.6% during the second quarter. BlackRock Inc. now owns 1,221,741 shares of the company’s stock worth $19,866,000 after buying an additional 174,121 shares during the period. AlpInvest Partners B.V. acquired a new position in shares of Avrobio during the second quarter worth about $2,464,000. Finally, Farallon Capital Management LLC boosted its position in shares of Avrobio by 15.1% during the second quarter. Farallon Capital Management LLC now owns 1,036,147 shares of the company’s stock worth $16,848,000 after buying an additional 136,147 shares during the period. Institutional investors and hedge funds own 68.55% of the company’s stock.

Avrobio Company Profile

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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Earnings History and Estimates for Avrobio (NASDAQ:AVRO)

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