Zacks Investment Research Lowers 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. “

A number of other research firms have also weighed in on BOLD. ValuEngine raised shares of Audentes Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. Bank of America Corporation reissued a “buy” rating and issued a $33.00 target price (up from $23.00) on shares of Audentes Therapeutics in a report on Friday, September 22nd. Finally, Evercore ISI started coverage on shares of Audentes Therapeutics in a report on Wednesday, August 16th. They issued an “outperform” rating and a $23.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $24.17.

Shares of Audentes Therapeutics (BOLD) traded up 3.18% during midday trading on Wednesday, hitting $27.54. 195,598 shares of the stock were exchanged. Audentes Therapeutics has a 52-week low of $13.13 and a 52-week high of $33.43. The firm has a market cap of $765.17 million, a PE ratio of 6.87 and a beta of -0.04. The firm’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) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.10). On average, analysts forecast that Audentes Therapeutics will post ($3.50) earnings per share for the current year.

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In related news, SVP David Nagler sold 3,750 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $30.00, for a total value of $112,500.00. Following the completion of the transaction, the senior vice president now directly owns 3,750 shares of the company’s stock, valued at $112,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Orbimed Advisors Llc sold 672,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $28.25, for a total transaction of $18,984,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 781,500 shares of company stock valued at $21,743,730. 47.30% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Redmile Group LLC grew its holdings in shares of Audentes Therapeutics by 77.8% in the second quarter. Redmile Group LLC now owns 1,459,616 shares of the biotechnology company’s stock valued at $27,922,000 after purchasing an additional 638,780 shares in the last quarter. Jennison Associates LLC boosted its stake in Audentes Therapeutics by 182.4% during the second quarter. Jennison Associates LLC now owns 846,273 shares of the biotechnology company’s stock worth $16,189,000 after buying an additional 546,617 shares during the period. Vanguard Group Inc. boosted its stake in Audentes Therapeutics by 130.3% during the second quarter. Vanguard Group Inc. now owns 678,412 shares of the biotechnology company’s stock worth $12,978,000 after buying an additional 383,837 shares during the period. Alliancebernstein L.P. boosted its stake in Audentes Therapeutics by 31.5% during the second quarter. Alliancebernstein L.P. now owns 640,654 shares of the biotechnology company’s stock worth $12,256,000 after buying an additional 153,617 shares during the period. Finally, State Street Corp boosted its stake in Audentes Therapeutics by 231.6% during the second quarter. State Street Corp now owns 221,276 shares of the biotechnology company’s stock worth $4,234,000 after buying an additional 154,544 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

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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