Audentes Therapeutics Inc (NASDAQ:BOLD) shares traded down 18.7% on Wednesday . The stock traded as low as $29.82 and last traded at $29.83. 1,251,615 shares were traded during trading, an increase of 213% from the average session volume of 399,430 shares. The stock had previously closed at $36.70.

Several research analysts recently weighed in on the company. Guggenheim assumed coverage on Audentes Therapeutics in a research note on Tuesday. They set a “neutral” rating for the company. HC Wainwright set a $40.00 target price on Audentes Therapeutics and gave the company a “buy” rating in a research note on Monday. Wedbush decreased their target price on Audentes Therapeutics from $52.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday. Raymond James reaffirmed a “hold” rating on shares of Audentes Therapeutics in a research note on Friday, October 5th. Finally, William Blair reaffirmed a “buy” rating on shares of Audentes Therapeutics in a research note on Friday, October 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Audentes Therapeutics has a consensus rating of “Hold” and a consensus price target of $36.45.

The firm has a market cap of $1.48 billion, a P/E ratio of -8.77 and a beta of 0.73.

Audentes Therapeutics (NASDAQ:BOLD) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.07). On average, equities research analysts anticipate that Audentes Therapeutics Inc will post -3.33 EPS for the current fiscal year.

In related news, CEO Matthew R. Patterson sold 12,952 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $518,080.00. Following the completion of the sale, the chief executive officer now directly owns 12,952 shares of the company’s stock, valued at approximately $518,080. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Louis G. Lange sold 33,000 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $37.38, for a total value of $1,233,540.00. Following the completion of the sale, the director now directly owns 365,999 shares of the company’s stock, valued at $13,681,042.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,039 shares of company stock valued at $2,925,260. 6.60% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. UBS Group AG lifted its stake in Audentes Therapeutics by 471.9% in the 1st quarter. UBS Group AG now owns 50,532 shares of the biotechnology company’s stock worth $1,518,000 after acquiring an additional 41,696 shares in the last quarter. MetLife Investment Advisors LLC lifted its stake in Audentes Therapeutics by 89.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 14,989 shares of the biotechnology company’s stock worth $573,000 after acquiring an additional 7,059 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Audentes Therapeutics by 48.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 67,660 shares of the biotechnology company’s stock worth $2,586,000 after acquiring an additional 22,063 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Audentes Therapeutics by 29.5% in the 2nd quarter. Wells Fargo & Company MN now owns 398,155 shares of the biotechnology company’s stock worth $15,213,000 after acquiring an additional 90,618 shares in the last quarter. Finally, Federated Investors Inc. PA purchased a new stake in Audentes Therapeutics in the 2nd quarter worth about $5,084,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

About Audentes Therapeutics (NASDAQ:BOLD)

Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients suffering from 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; AT982, which is in preclinical studies for the treatment of pompe disease; and AT307 that is in preclinical studies to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.

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