Guggenheim Begins Coverage on Avrobio (AVRO)

Guggenheim initiated coverage on shares of Avrobio (NASDAQ:AVRO) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating on the stock.

A number of other equities research analysts have also weighed in on AVRO. Wedbush initiated coverage on shares of Avrobio in a research note on Monday, July 16th. They set an outperform rating and a $38.00 target price for the company. Morgan Stanley initiated coverage on shares of Avrobio in a research note on Monday, July 16th. They set an overweight rating and a $37.00 target price for the company. Cowen initiated coverage on shares of Avrobio in a research note on Monday, July 16th. They set an outperform rating for the company. Wells Fargo & Co initiated coverage on shares of Avrobio in a research note on Monday, July 16th. They set an outperform rating and a $40.00 target price for the company. Finally, HC Wainwright initiated coverage on Avrobio in a research note on Monday, September 17th. They issued a buy rating for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $39.50.

Shares of AVRO opened at $25.17 on Tuesday. Avrobio has a 1-year low of $20.30 and a 1-year high of $53.70.

Avrobio (NASDAQ:AVRO) last announced its earnings results on Thursday, August 9th. The company reported ($2.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($2.51). Equities research analysts forecast that Avrobio will post -4.17 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of AVRO. TD Asset Management Inc. purchased a new stake in shares of Avrobio in the 2nd quarter worth $217,000. BlackRock Inc. purchased a new stake in shares of Avrobio in the 2nd quarter worth $248,000. Northern Trust Corp purchased a new stake in shares of Avrobio in the 2nd quarter worth $255,000. Nexthera Capital LP purchased a new stake in shares of Avrobio in the 2nd quarter worth $286,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Avrobio in the 2nd quarter worth $343,000. Hedge funds and other institutional investors own 63.14% 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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