Avrobio (NASDAQ:AVRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

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. “

AVRO has been the subject of a number of other research reports. Wedbush began coverage on Avrobio in a report on Monday, July 16th. They set an “outperform” rating and a $38.00 target price for the company. Wells Fargo & Co began coverage on Avrobio in a report on Monday, July 16th. They set an “outperform” rating and a $40.00 target price for the company. HC Wainwright began coverage on Avrobio in a report on Monday. They set a “buy” rating for the company. Morgan Stanley began coverage on Avrobio in a report on Monday, July 16th. They set an “overweight” rating and a $37.00 target price for the company. Finally, Cowen began coverage on Avrobio in a report on Monday, July 16th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.33.

Shares of Avrobio stock traded up $1.68 during trading on Monday, hitting $41.31. 123,864 shares of the stock traded hands, compared to its average volume of 105,623. Avrobio has a 52-week low of $26.51 and a 52-week high of $44.01.

Avrobio (NASDAQ:AVRO) last released its earnings results on Thursday, August 9th. The company reported ($2.98) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($2.51). sell-side analysts predict that Avrobio will post -4.81 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc. acquired a new stake in shares of Avrobio during the second quarter worth about $217,000. BlackRock Inc. acquired a new position in Avrobio in the second quarter valued at approximately $248,000. Nexthera Capital LP acquired a new position in Avrobio in the second quarter valued at approximately $286,000. Quantitative Systematic Strategies LLC acquired a new position in Avrobio in the second quarter valued at approximately $343,000. Finally, Dean Capital Investments Management LLC acquired a new position in Avrobio in the second quarter valued at approximately $549,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: Understanding Compound Annual Growth Rate (CAGR)

Get a free copy of the Zacks research report on Avrobio (AVRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Avrobio (NASDAQ:AVRO)

Receive News & Ratings for Avrobio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avrobio and related companies with MarketBeat.com's FREE daily email newsletter.