Audentes Therapeutics, Inc. (BOLD) Stock Rating Lowered by Zacks Investment Research
Audentes Therapeutics, Inc. (NASDAQ:BOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Audentes Therapeutics, Inc. is a biotechnology company which focused on developing and commercializing gene therapy products for patients suffering from serious, life-threatening rare diseases. The company’s product pipeline consists of AT132 for the treatment of X-linked myotubular myopathy; AT342 for the treatment of crigler-najjar syndrome type 1; AT307 for the treatment of the CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia and AT982 for the treatment of pompe disease, which are in pre-clinical trial stage. Audentes Therapeutics, Inc. is based in San Francisco, California. “
Several other research firms have also weighed in on BOLD. Bank of America Corporation reissued a “buy” rating and issued a $33.00 target price (up previously from $23.00) on shares of Audentes Therapeutics in a report on Friday, September 22nd. ValuEngine raised Audentes Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Finally, Evercore ISI assumed coverage on Audentes Therapeutics in a report on Wednesday, August 16th. They issued an “outperform” rating and a $23.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Audentes Therapeutics presently has an average rating of “Hold” and a consensus price target of $24.17.
Shares of Audentes Therapeutics (BOLD) opened at 28.03 on Wednesday. The company has a 50-day moving average of $26.82 and a 200-day moving average of $26.82. The firm’s market cap is $613.55 million. Audentes Therapeutics has a 1-year low of $13.13 and a 1-year high of $33.43.
Audentes Therapeutics (NASDAQ:BOLD) last posted its earnings results on Thursday, August 10th. The biotechnology company reported ($0.87) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.77) by ($0.10). Analysts predict that Audentes Therapeutics will post ($3.50) earnings per share for the current fiscal year.
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In other news, SVP David Nagler sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $30.00, for a total value of $112,500.00. Following the transaction, the senior vice president now directly owns 3,750 shares in the company, valued at approximately $112,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew R. Patterson sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $25.06, for a total value of $250,600.00. Following the completion of the transaction, the chief executive officer now owns 1,542 shares in the company, valued at $38,642.52. The disclosure for this sale can be found here. Insiders have sold 766,500 shares of company stock worth $21,443,730 over the last quarter. 47.30% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in BOLD. Wells Fargo & Company MN raised its holdings in shares of Audentes Therapeutics by 278.5% in the 1st quarter. Wells Fargo & Company MN now owns 7,747 shares of the biotechnology company’s stock worth $132,000 after purchasing an additional 5,700 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Audentes Therapeutics by 288.9% in the 2nd quarter. Nationwide Fund Advisors now owns 8,594 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 6,384 shares during the period. Citadel Advisors LLC purchased a new position in shares of Audentes Therapeutics in the 1st quarter worth about $184,000. State of Wisconsin Investment Board purchased a new position in shares of Audentes Therapeutics in the 2nd quarter worth about $210,000. Finally, Rhumbline Advisers purchased a new position in shares of Audentes Therapeutics in the 2nd quarter worth about $252,000. Institutional investors own 77.09% of the company’s stock.
About Audentes Therapeutics
Audentes Therapeutics, Inc is an early-stage biotechnology company. The Company is focused on developing and commercializing gene therapy products for patients suffering from serious, life-threatening rare diseases caused by single gene defects. The Company has a portfolio of product candidates, including AT132 for the treatment of X-Linked Myotubular Myopathy (XLMTM); AT342 for the treatment of Crigler-Najjar Syndrome (Crigler-Najjar); AT982 for the treatment of Pompe disease, and AT307 for the treatment of the CASQ2 subtype of Catecholaminergic Polymorphic Ventricular Tachycardia (CASQ2-CPVT).
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