Bank of New York Mellon Corp boosted its position in Avrobio Inc (NASDAQ:AVRO) by 602.0% in the second quarter, HoldingsChannel.com reports. The firm owned 737,589 shares of the company’s stock after purchasing an additional 632,522 shares during the quarter. Bank of New York Mellon Corp’s holdings in Avrobio were worth $12,871,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in shares of Avrobio by 58.7% during the 2nd quarter. California Public Employees Retirement System now owns 68,334 shares of the company’s stock valued at $1,192,000 after acquiring an additional 25,277 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Avrobio in the second quarter worth $218,000. Virtu Financial LLC acquired a new position in shares of Avrobio in the second quarter worth $176,000. Trexquant Investment LP increased its stake in shares of Avrobio by 94.9% in the second quarter. Trexquant Investment LP now owns 40,115 shares of the company’s stock worth $700,000 after acquiring an additional 19,528 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Avrobio by 56.4% in the second quarter. New York State Common Retirement Fund now owns 28,300 shares of the company’s stock worth $494,000 after acquiring an additional 10,200 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Several research firms have commented on AVRO. BidaskClub downgraded shares of Avrobio from a “buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Mizuho restated a “buy” rating and set a $35.00 price target on shares of Avrobio in a report on Tuesday. Wedbush restated an “outperform” rating and set a $36.00 price target on shares of Avrobio in a report on Friday, August 7th. Morgan Stanley decreased their price target on shares of Avrobio from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Zacks Investment Research cut shares of Avrobio from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Avrobio currently has a consensus rating of “Buy” and an average price target of $29.67.

Shares of NASDAQ AVRO opened at $16.33 on Wednesday. The business has a fifty day simple moving average of $16.86 and a 200 day simple moving average of $17.04. The firm has a market capitalization of $565.95 million, a price-to-earnings ratio of -5.71 and a beta of 1.59. Avrobio Inc has a one year low of $9.76 and a one year high of $29.32.

Avrobio (NASDAQ:AVRO) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.04). On average, equities analysts anticipate that Avrobio Inc will post -3.21 EPS for the current year.

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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Institutional Ownership by Quarter for Avrobio (NASDAQ:AVRO)

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