Avrobio (AVRO) Given New $40.00 Price Target at Morgan Stanley

Avrobio (NASDAQ:AVRO) had its price target increased by investment analysts at Morgan Stanley from $37.00 to $40.00 in a research note issued to investors on Monday. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 3.61% from the company’s previous close.

A number of other analysts have also commented on AVRO. 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 price objective 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. Finally, Wedbush initiated coverage on shares of Avrobio in a research note on Monday, July 16th. They set an “outperform” rating and a $38.00 price objective for the company.

Shares of Avrobio traded up $0.53, hitting $41.50, during trading hours on Monday, MarketBeat.com reports. 517 shares of the company’s stock traded hands, compared to its average volume of 108,986. Avrobio has a 52 week low of $26.51 and a 52 week high of $44.01.

Avrobio (NASDAQ:AVRO) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($2.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($2.51). equities research analysts expect that Avrobio will post -1.86 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. SV Health Investors LLC purchased a new stake in Avrobio during the second quarter valued at about $78,141,000. FMR LLC purchased a new stake in Avrobio during the second quarter valued at about $14,280,000. Citadel Advisors LLC purchased a new stake in Avrobio during the second quarter valued at about $12,422,000. Emerald Advisers Inc. PA purchased a new stake in Avrobio during the second quarter valued at about $6,845,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Avrobio during the second quarter valued at about $6,026,000. 13.91% of the stock is owned by institutional investors.

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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