Why Avrobio Shares Are Rising Wednesday

AVROBIO Inc AVRO shares are trading higher Wednesday after the company said it will explore strategic alternatives.

What To Know: Avrobio announced that it has completed a strategic review of its business and decided to halt further development of its programs while it explores strategic alternatives aimed at maximizing shareholder value.

Potential strategic alternatives include an acquisition, merger, business combination or other transaction. Avrobio did not provide a timetable for the expected completion of the evaluation process.

Avrobio is a clinical-stage gene therapy company developing potential treatments for rare diseases.

See Also: These 3 Health Care Stocks Delivering High-Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts

AVRO Price Action: Avrobio has a 52-week high of $1.93 and a 52-week low of 56 cents.

The stock was up 42.2% at $1.40 at the time of publication, according to Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.