Audentes Therapeutics, Inc. (NASDAQ:BOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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. “

A number of other equities research analysts have also recently weighed in on BOLD. Bank of America Corporation restated a “buy” rating and set a $33.00 price objective (up from $23.00) on shares of Audentes Therapeutics in a research note on Friday, September 22nd. ValuEngine upgraded Audentes Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Raymond James Financial, Inc. initiated coverage on Audentes Therapeutics in a research note on Thursday, October 12th. They set a “market perform” rating for the company. Evercore ISI initiated coverage on Audentes Therapeutics in a research note on Wednesday, August 16th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, Leerink Swann restated an “outperform” rating and set a $29.00 price objective (up from $22.00) on shares of Audentes Therapeutics in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $27.17.

Shares of Audentes Therapeutics (BOLD) traded up $0.18 during mid-day trading on Friday, hitting $27.57. The company’s stock had a trading volume of 183,915 shares, compared to its average volume of 142,870. Audentes Therapeutics has a twelve month low of $13.90 and a twelve month high of $33.43.

Audentes Therapeutics (NASDAQ:BOLD) last issued its earnings results on Tuesday, November 14th. The biotechnology company reported ($0.88) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.88). sell-side analysts predict that Audentes Therapeutics will post -3.53 earnings per share for the current fiscal year.

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In related news, SVP David Nagler sold 3,750 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.00, for a total transaction of $93,750.00. Following the transaction, the senior vice president now directly owns 3,750 shares of the company’s stock, valued at approximately $93,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Orbimed Advisors Llc sold 672,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $28.25, for a total value of $18,984,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 776,500 shares of company stock valued at $21,712,130 over the last 90 days. 47.30% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Audentes Therapeutics during the 3rd quarter valued at about $143,000. Wells Fargo & Company MN increased its position in Audentes Therapeutics by 278.5% during the 1st quarter. Wells Fargo & Company MN now owns 7,747 shares of the biotechnology company’s stock valued at $132,000 after buying an additional 5,700 shares in the last quarter. Nationwide Fund Advisors increased its position in Audentes Therapeutics by 288.9% during the 2nd quarter. Nationwide Fund Advisors now owns 8,594 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 6,384 shares in the last quarter. Trexquant Investment LP acquired a new position in Audentes Therapeutics during the 3rd quarter valued at about $295,000. Finally, State of Wisconsin Investment Board acquired a new position in Audentes Therapeutics during the 2nd quarter valued at about $210,000. 77.19% of the stock is currently owned by institutional investors.

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).

Analyst Recommendations for Audentes Therapeutics (NASDAQ:BOLD)

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