Avrobio jumps amid speculation of takeover interest

 

• Avrobio Inc. (NASDAQ:AVRO) soared 23% amid a report that the company is exploring a possible sale after an approach from Novartis (NVS).
• A takeover for the company may be valued at more than quadruple its market price before it popped on the takeover speculation, according to a Street Insider report, which cited an unidentified source. Avrobio (AVRO) is said to be working with Cowen and Wells Fargo on a potential sale.
• AVRO hadn't responded to a Street Insider request for comment and Novartis (NVS) doesn't comment on market rumors and speculation.

https://www.msn.com/en-us/money/companies/avrobio-jumps-amid-speculation-of-takeover-interest/ar-AA17fZj1