Bank of New York Mellon Corp grew its position in Avrobio Inc (NASDAQ:AVRO) by 10.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,039 shares of the company’s stock after acquiring an additional 4,820 shares during the quarter. Bank of New York Mellon Corp’s holdings in Avrobio were worth $814,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers bought a new stake in shares of Avrobio in the 1st quarter worth approximately $296,000. Bessemer Group Inc. bought a new position in shares of Avrobio during the 2nd quarter worth approximately $336,000. Wells Fargo & Company MN lifted its position in shares of Avrobio by 160.2% during the 2nd quarter. Wells Fargo & Company MN now owns 24,551 shares of the company’s stock worth $400,000 after buying an additional 15,114 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Avrobio by 29.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 57,134 shares of the company’s stock worth $929,000 after buying an additional 12,881 shares during the period. Finally, Granite Point Capital Management L.P. bought a new position in shares of Avrobio during the 2nd quarter worth approximately $976,000. Institutional investors own 68.55% of the company’s stock.
In other Avrobio news, Director Bruce Booth purchased 810,811 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was purchased at an average cost of $18.50 per share, with a total value of $15,000,003.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.70% of the company’s stock.
AVRO has been the subject of several analyst reports. Zacks Investment Research upgraded Avrobio from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Friday, September 27th. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Avrobio in a research report on Friday, August 9th. Cowen restated a “buy” rating on shares of Avrobio in a research report on Monday, July 15th. Wedbush restated an “outperform” rating and set a $43.00 target price on shares of Avrobio in a research report on Friday, August 9th. Finally, Mizuho restated a “buy” rating and set a $28.00 target price on shares of Avrobio in a research report on Sunday, August 11th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.90.
Avrobio stock opened at $14.34 on Friday. The company has a market capitalization of $346.27 million, a PE ratio of -3.96 and a beta of 2.63. Avrobio Inc has a one year low of $11.85 and a one year high of $33.38. The business has a 50 day simple moving average of $17.57 and a 200 day simple moving average of $18.21.
Avrobio (NASDAQ:AVRO) last posted its earnings results on Thursday, August 8th. The company reported ($0.67) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.09. On average, sell-side analysts anticipate that Avrobio Inc will post -2.52 EPS for the current year.
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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