Zacks Investment Research Downgrades Audentes Therapeutics, Inc. (BOLD) to Sell
Audentes Therapeutics, Inc. (NASDAQ:BOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “
Other research analysts have also recently issued reports about the stock. Bank of America Corporation reissued a “buy” rating and set a $33.00 target price (up from $23.00) on shares of Audentes Therapeutics in a research report on Friday, September 22nd. ValuEngine cut shares of Audentes Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Evercore ISI assumed coverage on shares of Audentes Therapeutics in a research report on Wednesday, August 16th. They set an “outperform” rating and a $23.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $24.17.
Shares of Audentes Therapeutics (BOLD) traded up 3.67% during midday trading on Wednesday, hitting $27.67. 237,260 shares of the company’s stock were exchanged. Audentes Therapeutics has a 1-year low of $13.13 and a 1-year high of $33.43. The stock has a market cap of $768.78 million, a PE ratio of 6.90 and a beta of -0.04. The stock’s 50 day moving average is $26.73 and its 200-day moving average is $26.73.
Audentes Therapeutics (NASDAQ:BOLD) last posted its earnings results on Thursday, August 10th. The biotechnology company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates 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 Audentes Therapeutics news, CEO Matthew R. Patterson sold 15,000 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $20.00, for a total transaction of $300,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Suyash Prasad sold 8,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $21.44, for a total transaction of $171,520.00. Following the sale, the vice president now owns 8,000 shares of the company’s stock, valued at approximately $171,520. The disclosure for this sale can be found here. Insiders sold 781,500 shares of company stock worth $21,743,730 over the last ninety days. 47.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in Audentes Therapeutics by 278.5% during the first quarter. Wells Fargo & Company MN now owns 7,747 shares of the biotechnology company’s stock valued at $132,000 after purchasing an additional 5,700 shares during the last quarter. Nationwide Fund Advisors increased its stake in Audentes Therapeutics by 288.9% during the second quarter. Nationwide Fund Advisors now owns 8,594 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 6,384 shares during the last quarter. Citadel Advisors LLC bought a new stake in Audentes Therapeutics during the first quarter valued at $184,000. State of Wisconsin Investment Board bought a new stake in Audentes Therapeutics during the second quarter valued at $210,000. Finally, Rhumbline Advisers bought a new stake in Audentes Therapeutics during the second quarter valued at $252,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Audentes Therapeutics Company Profile
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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