Audentes Therapeutics (BOLD) Coverage Initiated by Analysts at BMO Capital Markets
BMO Capital Markets initiated coverage on shares of Audentes Therapeutics (NASDAQ:BOLD) in a research note released on Tuesday morning. The brokerage issued an outperform rating and a $35.00 price objective on the biotechnology company’s stock.
Several other equities analysts also recently commented on the stock. Bank of America 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. Zacks Investment Research downgraded shares of Audentes Therapeutics from a hold rating to a sell rating in a report on Wednesday, October 11th. Leerink Swann reissued an outperform rating and issued a $29.00 target price (up previously from $22.00) on shares of Audentes Therapeutics in a report on Wednesday, November 15th. Raymond James Financial initiated coverage on shares of Audentes Therapeutics in a report on Thursday, October 12th. They issued a market perform rating on the stock. Finally, ValuEngine downgraded shares of Audentes Therapeutics from a hold rating to a sell rating in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $28.29.
Shares of Audentes Therapeutics (BOLD) traded down $0.29 during trading hours on Tuesday, reaching $27.38. 130,700 shares of the company’s stock traded hands, compared to its average volume of 148,087. 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 quarterly earnings results on Tuesday, November 14th. The biotechnology company reported ($0.88) earnings per share for the quarter, meeting the consensus estimate of ($0.88). equities research analysts forecast that Audentes Therapeutics will post -3.52 EPS for the current fiscal year.
In related news, CEO Matthew R. Patterson sold 10,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $25.06, for a total value of $250,600.00. Following the sale, the chief executive officer now owns 1,542 shares in the company, valued at $38,642.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Nagler sold 3,750 shares of the business’s stock in a transaction 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 owns 3,750 shares in the company, valued at approximately $93,750. The disclosure for this sale can be found here. Insiders sold 766,500 shares of company stock worth $21,568,850 in the last 90 days. 47.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Redmile Group LLC increased its position in Audentes Therapeutics by 77.8% during the second quarter. Redmile Group LLC now owns 1,459,616 shares of the biotechnology company’s stock valued at $27,922,000 after acquiring an additional 638,780 shares during the last quarter. Jennison Associates LLC increased its position in Audentes Therapeutics by 182.4% during the second quarter. Jennison Associates LLC now owns 846,273 shares of the biotechnology company’s stock valued at $16,189,000 after acquiring an additional 546,617 shares during the last quarter. Perceptive Advisors LLC increased its position in Audentes Therapeutics by 10.4% during the third quarter. Perceptive Advisors LLC now owns 781,309 shares of the biotechnology company’s stock valued at $21,885,000 after acquiring an additional 73,809 shares during the last quarter. Vanguard Group Inc. increased its position in Audentes Therapeutics by 130.3% during the second quarter. Vanguard Group Inc. now owns 678,412 shares of the biotechnology company’s stock valued at $12,978,000 after acquiring an additional 383,837 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Audentes Therapeutics by 31.5% in the second quarter. Alliancebernstein L.P. now owns 640,654 shares of the biotechnology company’s stock worth $12,256,000 after purchasing an additional 153,617 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.
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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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