Essex Investment Management Co. LLC Buys New Stake in Avrobio Inc (AVRO)

Essex Investment Management Co. LLC bought a new position in Avrobio Inc (NASDAQ:AVRO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 41,191 shares of the company’s stock, valued at approximately $2,137,000. Essex Investment Management Co. LLC owned approximately 0.17% of Avrobio as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in AVRO. TD Asset Management Inc. purchased a new stake in Avrobio during the second quarter valued at about $217,000. BlackRock Inc. purchased a new stake in Avrobio during the second quarter valued at about $248,000. Northern Trust Corp purchased a new stake in Avrobio during the second quarter valued at about $255,000. Nexthera Capital LP purchased a new stake in Avrobio during the second quarter valued at about $286,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Avrobio during the second quarter valued at about $343,000. Institutional investors own 63.14% of the company’s stock.

NASDAQ AVRO opened at $30.53 on Thursday. Avrobio Inc has a 12-month low of $20.30 and a 12-month high of $53.70.

Avrobio (NASDAQ:AVRO) last posted its earnings results on Thursday, August 9th. The company reported ($2.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($2.51). As a group, research analysts expect that Avrobio Inc will post -4.17 earnings per share for the current fiscal year.

AVRO has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and set a $40.00 price target (down from $47.00) on shares of Avrobio in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Avrobio from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Morgan Stanley initiated coverage on shares of Avrobio in a research report on Monday, July 16th. They set an “overweight” rating and a $37.00 price target for the company. Wells Fargo & Co initiated coverage on shares of Avrobio in a research report on Monday, July 16th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Cowen initiated coverage on shares of Avrobio in a research report on Monday, July 16th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Avrobio currently has a consensus rating of “Buy” and a consensus price target of $39.50.

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. 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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Institutional Ownership by Quarter for Avrobio (NASDAQ:AVRO)

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