Zacks Investment Research downgraded shares of Avrobio (NASDAQ:AVRO) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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 analysts have also recently weighed in on the stock. Cowen restated a buy rating on shares of Avrobio in a research report on Monday, July 15th. Mizuho restated a buy rating and set a $28.00 price objective on shares of Avrobio in a research report on Sunday, August 11th. Wedbush restated an outperform rating and set a $43.00 price objective on shares of Avrobio in a research report on Friday, August 9th. HC Wainwright restated a buy rating and set a $35.00 price objective on shares of Avrobio in a research report on Friday, August 9th. Finally, ValuEngine upgraded shares of Avrobio from a hold rating to a buy rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $29.07.

AVRO opened at $18.04 on Wednesday. The firm has a fifty day moving average price of $19.12 and a 200 day moving average price of $18.27. Avrobio has a 1 year low of $11.85 and a 1 year high of $53.70.

Avrobio (NASDAQ:AVRO) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.67) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.09. As a group, equities research analysts forecast that Avrobio will post -2.52 earnings per share for the current fiscal year.

In other Avrobio news, Director Bruce Booth bought 810,811 shares of Avrobio stock in a transaction dated Friday, July 19th. The stock was acquired at an average cost 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 can be accessed through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AVRO. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 582,639 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Avrobio by 33.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 808,235 shares of the company’s stock valued at $13,142,000 after buying an additional 203,484 shares during the last quarter. BlackRock Inc. raised its position in shares of Avrobio by 16.6% in the second quarter. BlackRock Inc. now owns 1,221,741 shares of the company’s stock valued at $19,866,000 after buying an additional 174,121 shares during the last quarter. AlpInvest Partners B.V. acquired a new stake in shares of Avrobio in the second quarter valued at about $2,464,000. Finally, Farallon Capital Management LLC raised its position in shares of Avrobio by 15.1% in the second quarter. Farallon Capital Management LLC now owns 1,036,147 shares of the company’s stock valued at $16,848,000 after buying an additional 136,147 shares during the last quarter. 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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