Audentes Therapeutics (NASDAQ:BOLD) Cut to “Buy” at BidaskClub
Other equities research analysts have also recently issued reports about the stock. HC Wainwright set a $48.00 target price on shares of Audentes Therapeutics and gave the company a buy rating in a research report on Wednesday, May 8th. Zacks Investment Research lowered shares of Audentes Therapeutics from a buy rating to a hold rating in a research note on Thursday, August 1st. Citigroup lowered shares of Audentes Therapeutics from a neutral rating to a sell rating and raised their price objective for the company from $28.00 to $32.00 in a research note on Friday, April 26th. BMO Capital Markets set a $47.00 price objective on shares of Audentes Therapeutics and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, Mizuho reaffirmed a buy rating and issued a $45.00 target price on shares of Audentes Therapeutics in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $39.99.
NASDAQ:BOLD opened at $33.88 on Thursday. The company has a market cap of $1.50 billion, a PE ratio of -9.96 and a beta of 1.70. Audentes Therapeutics has a twelve month low of $17.95 and a twelve month high of $41.65. The company’s 50 day moving average is $36.98 and its two-hundred day moving average is $35.87.
In other news, CEO Matthew R. Patterson sold 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $34.04, for a total transaction of $680,800.00. Following the completion of the transaction, the chief executive officer now directly owns 135,368 shares of the company’s stock, valued at $4,607,926.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Louis G. Lange sold 21,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $37.79, for a total value of $793,590.00. Following the transaction, the director now directly owns 290,001 shares of the company’s stock, valued at $10,959,137.79. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its position in Audentes Therapeutics by 578.5% during the second quarter. Meeder Asset Management Inc. now owns 726 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 619 shares during the period. Aperio Group LLC purchased a new stake in shares of Audentes Therapeutics during the 2nd quarter worth about $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Audentes Therapeutics by 50.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,990 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 1,005 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Audentes Therapeutics by 34.5% in the 4th quarter. Legal & General Group Plc now owns 6,632 shares of the biotechnology company’s stock valued at $141,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Audentes Therapeutics by 810.4% in the 2nd quarter. Bank of Montreal Can now owns 4,106 shares of the biotechnology company’s stock valued at $155,000 after acquiring an additional 3,655 shares in the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.
Audentes Therapeutics Company Profile
Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients living with serious, life-threatening rare diseases caused by single gene defects. The company is developing AT132, which is in Phase I/II clinical studies for the treatment of X-linked myotubular myopathy (XLMTM); AT342 that is in Phase I/II clinical studies to treat crigler-najjar syndrome; AT845, which is in preclinical studies for the treatment of pompe disease; and AT307 to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.
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