AVROBIO Inc. [AVRO] is -30.50% lower this YTD. Is it still time to buy?

AVROBIO Inc. [NASDAQ: AVRO] traded at a low on 11/20/20, posting a -17.61 loss after which it closed the day’ session at $13.99. The company report on November 20, 2020 that AVROBIO Announces Pricing of Underwritten Public Offering of $75 Million of Common Stock.

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AVROBIO, Inc. (NASDAQ: AVRO), a leading clinical-stage gene therapy company, announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $15.00 per share. Gross proceeds from the underwritten public offering will total approximately $75 million, before deducting underwriting discounts and commissions and other offering expenses payable by the company. In addition, the company has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the offering are to be sold by the company. The offering is expected to close on or about Nov. 24, 2020, subject to customary closing conditions.

Morgan Stanley, Cowen, Wells Fargo Securities and Barclays are acting as joint book-running managers for the offering, and Wedbush PacGrow is acting as co-manager.

The results of the trading session contributed to over 2156718 shares changing hands. Over the past one week, the price volatility of AVROBIO Inc. stands at 7.08% while the volatility over the past one month is 8.42%.

The market cap for AVRO stock reached $618.92 million, with 36.44 million shares outstanding and 35.56 million shares in the current float. Compared to the average trading volume of 187.18K shares, AVRO reached a trading volume of 2156718 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about AVROBIO Inc. [AVRO]?

Berenberg have made an estimate for AVROBIO Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 11, 2020. The new note on the price target was released on March 31, 2020, representing the official price target for AVROBIO Inc. stock. Previously, the target price had yet another raise to $28, while Mizuho analysts kept a Buy rating on AVRO stock.

The Average True Range (ATR) for AVROBIO Inc. is set at 1.37 The Price to Book ratio for the last quarter was 2.45, with the Price to Cash per share for the same quarter was set at 4.96.

How has AVRO stock performed recently?

AVROBIO Inc. [AVRO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.80. With this latest performance, AVRO shares dropped by -15.21% in over the last four-week period, additionally sinking by -30.88% over the last 6 months – not to mention a drop of -15.57% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVRO stock in for the last two-week period is set at 42.06, with the RSI for the last a single of trading hit 35.43, and the three-weeks RSI is set at 43.35 for AVROBIO Inc. [AVRO]. The present Moving Average for the last 50 days of trading for this stock 15.22, while it was recorded at 16.13 for the last single week of trading, and 16.98 for the last 200 days.

AVROBIO Inc. [AVRO]: Deeper insight into the fundamentals

Return on Total Capital for AVRO is now -49.20, given the latest momentum, and Return on Invested Capital for the company is -47.35. Return on Equity for this stock declined to -47.35, with Return on Assets sitting at -43.69.

AVROBIO Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.10 and a Current Ratio set at 9.10.

Earnings analysis for AVROBIO Inc. [AVRO]

With the latest financial reports released by the company, AVROBIO Inc. posted -0.72/share EPS, while the average EPS was predicted by analysts to be reported at -0.59/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -22.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVRO.

Insider trade positions for AVROBIO Inc. [AVRO]

There are presently around $442 million, in the hands of institutional investors. The top three institutional holders of AVRO stocks are: JPMORGAN CHASE & CO with ownership of 3,634,982, which is approximately 21.682% of the company’s market cap and around 2.45% of the total institutional ownership; BLACKROCK INC., holding 2,569,364 shares of the stock with an approximate value of $35.95 million in AVRO stocks shares; and EVENTIDE ASSET MANAGEMENT, LLC, currently with $26.66 million in AVRO stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in AVROBIO Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 38 institutional holders increased their position in AVROBIO Inc. [NASDAQ:AVRO] by around 2,877,236 shares. Additionally, 51 investors decreased positions by around 2,391,176 shares, while 23 investors held positions by with 26,346,981 shares. The mentioned changes placed institutional holdings at 31,615,393 shares, according to the latest SEC report filing. AVRO stock had 14 new institutional investments in for a total of 722,339 shares, while 11 institutional investors sold positions of 659,879 shares during the same period.

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