Mizuho downgraded Avrobio (AVRO) to Neutral from Buy with a price target of $2, down from $5. The firm has concerns about the future operations and cash runway of the company after Avrobio announced a decision to halt development of its gene therapy programs and to explore strategic alternatives in June following the departure of the CEO/ founder in May and the sale of its cystinosis gene therapy program to Novartis (NVS).
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