Autolus Therapeutics (NASDAQ:AUTL) Trading 16.1% Higher After Better-Than-Expected Earnings

Shares of Autolus Therapeutics PLC Sponsored ADR (NASDAQ:AUTL) were up 16.1% during mid-day trading on Monday following a better than expected earnings announcement. The stock traded as high as $1.8350 and last traded at $1.8920. Approximately 873,891 shares were traded during trading, a decline of 49% from the average daily volume of 1,728,245 shares. The stock had previously closed at $1.63.

The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.02. Autolus Therapeutics had a negative net margin of 311.98% and a negative return on equity of 128.59%. The company had revenue of $26.22 million during the quarter, compared to analysts’ expectations of $26.27 million.

Analysts Set New Price Targets

AUTL has been the topic of several recent analyst reports. Jefferies Financial Group upgraded Autolus Therapeutics to a “strong-buy” rating in a research note on Monday, April 20th. Mizuho reduced their price objective on Autolus Therapeutics from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. HC Wainwright lifted their target price on Autolus Therapeutics from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Truist Financial raised Autolus Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Autolus Therapeutics in a research note on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Institutional Trading of Autolus Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd raised its holdings in Autolus Therapeutics by 40.1% during the 3rd quarter. R Squared Ltd now owns 30,476 shares of the company’s stock worth $50,000 after purchasing an additional 8,730 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Autolus Therapeutics by 41.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,419 shares of the company’s stock valued at $88,000 after purchasing an additional 11,289 shares during the last quarter. Invesco Ltd. increased its position in shares of Autolus Therapeutics by 53.3% during the first quarter. Invesco Ltd. now owns 32,738 shares of the company’s stock worth $51,000 after buying an additional 11,381 shares during the period. Marex Group plc acquired a new stake in shares of Autolus Therapeutics during the second quarter worth $28,000. Finally, Independent Advisor Alliance bought a new position in Autolus Therapeutics during the fourth quarter worth $28,000. 72.83% of the stock is currently owned by institutional investors.

Autolus Therapeutics Stock Down 9.4%

The firm has a market cap of $433.81 million, a P/E ratio of -1.50 and a beta of 1.93. The business’s 50 day moving average is $1.49 and its two-hundred day moving average is $1.52.

About Autolus Therapeutics

Autolus Therapeutics is a clinical-stage biopharmaceutical company specializing in the development of next-generation, programmed T cell therapies for the treatment of cancer. The company leverages proprietary technologies to engineer autologous T cells that target and eradicate tumor cells, with the aim of improving safety, efficacy and durability over existing cell therapies. Its R&D platform integrates antigen receptor design, gene editing and manufacturing optimization to generate candidates tailored for specific hematologic malignancies and solid tumor indications.

The company’s leading pipeline candidates include AUTO1, an optimized CD19-targeted CAR-T therapy for relapsed or refractory acute lymphoblastic leukemia, and AUTO3, a dual-targeted CD19/22 CAR-T program in development for diffuse large B-cell lymphoma.