Wedbush Lowers AVROBIO (NASDAQ:AVRO) Price Target to $4.00

AVROBIO (NASDAQ:AVROGet Rating) had its price target cut by Wedbush from $14.00 to $4.00 in a report issued on Wednesday, The Fly reports. Wedbush’s price target would suggest a potential upside of 381.93% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of AVROBIO from a “hold” rating to a “buy” rating and set a $1.75 price target on the stock in a report on Monday, March 21st. Barclays reduced their price target on shares of AVROBIO from $6.00 to $4.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, AVROBIO presently has an average rating of “Buy” and a consensus target price of $6.86.

Shares of AVROBIO stock opened at $0.83 on Wednesday. AVROBIO has a 52-week low of $0.78 and a 52-week high of $11.00. The company has a quick ratio of 10.27, a current ratio of 10.27 and a debt-to-equity ratio of 0.09. The company’s 50-day simple moving average is $1.23 and its 200-day simple moving average is $2.57. The firm has a market cap of $36.27 million, a price-to-earnings ratio of -0.30 and a beta of 1.73.

AVROBIO (NASDAQ:AVROGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.10). Equities research analysts anticipate that AVROBIO will post -2.02 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in AVRO. Deep Track Capital LP purchased a new position in shares of AVROBIO during the fourth quarter valued at approximately $4,043,000. Goldman Sachs Group Inc. lifted its stake in shares of AVROBIO by 219.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,381,758 shares of the company’s stock valued at $5,319,000 after buying an additional 949,620 shares during the period. BioImpact Capital LLC purchased a new position in shares of AVROBIO during the third quarter valued at approximately $4,809,000. Eversept Partners LP purchased a new position in shares of AVROBIO during the third quarter valued at approximately $2,006,000. Finally, Renaissance Technologies LLC lifted its stake in shares of AVROBIO by 355.2% during the third quarter. Renaissance Technologies LLC now owns 405,100 shares of the company’s stock valued at $2,260,000 after buying an additional 316,100 shares during the period. 63.92% of the stock is currently owned by institutional investors and hedge funds.

AVROBIO Company Profile (Get Rating)

AVROBIO, Inc, a clinical-stage gene therapy company, develops ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose worldwide. 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 that is defective in the target disease.

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