Audentes Therapeutics (BOLD) Receives New Coverage from Analysts at BMO Capital Markets
Stock analysts at BMO Capital Markets started coverage on shares of Audentes Therapeutics (NASDAQ:BOLD) in a research note issued on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $35.00 price target on the biotechnology company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 26.49% from the stock’s current price.
A number of other research firms have also recently commented on BOLD. ValuEngine cut shares of Audentes Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday. Raymond James Financial started coverage on shares of Audentes Therapeutics in a research report on Thursday, October 12th. They issued a “market perform” rating for the company. Zacks Investment Research cut shares of Audentes Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Bank of America reissued a “buy” rating and issued a $33.00 price objective (up from $23.00) on shares of Audentes Therapeutics in a research report on Friday, September 22nd. Finally, Leerink Swann reissued an “outperform” rating and issued a $29.00 price objective (up from $22.00) on shares of Audentes Therapeutics in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $28.29.
Audentes Therapeutics (NASDAQ BOLD) traded down $0.71 during mid-day trading on Tuesday, hitting $27.67. 200,600 shares of the company were exchanged, compared to its average volume of 148,162. Audentes Therapeutics has a 52-week low of $13.90 and a 52-week high of $33.43.
In other news, major shareholder Orbimed Advisors Llc sold 672,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $28.25, for a total value of $18,984,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Nagler sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.00, for a total transaction of $93,750.00. Following the completion of the sale, the senior vice president now directly owns 3,750 shares of the company’s stock, valued at approximately $93,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 758,500 shares of company stock valued at $21,340,610. 47.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Audentes Therapeutics in the 3rd quarter worth approximately $143,000. Nationwide Fund Advisors lifted its position 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. State of Wisconsin Investment Board purchased a new stake in shares of Audentes Therapeutics in the 2nd quarter worth approximately $210,000. Rhumbline Advisers purchased a new stake in shares of Audentes Therapeutics in the 2nd quarter worth approximately $252,000. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of Audentes Therapeutics in the 2nd quarter worth approximately $257,000. 78.99% of the stock is owned by hedge funds and other 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).
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