Audentes Therapeutics (BOLD) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Audentes Therapeutics (NASDAQ:BOLD) from a buy rating to a hold rating in a report released on Friday morning.

Several other brokerages have also recently commented on BOLD. Chardan Capital began coverage on shares of Audentes Therapeutics in a research note on Monday, June 25th. They set a neutral rating and a $35.00 price objective for the company. Zacks Investment Research upgraded shares of Audentes Therapeutics from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Tuesday, July 10th. BidaskClub upgraded shares of Audentes Therapeutics from a hold rating to a buy rating in a research note on Tuesday, September 18th. HC Wainwright set a $40.00 target price on shares of Audentes Therapeutics and gave the company a buy rating in a research note on Tuesday, September 25th. Finally, B. Riley began coverage on shares of Audentes Therapeutics in a research note on Friday, September 7th. They issued a sell rating and a $20.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Audentes Therapeutics presently has a consensus rating of Hold and a consensus target price of $35.45.

NASDAQ BOLD traded up $0.56 on Friday, hitting $27.69. 1,699,736 shares of the company’s stock traded hands, compared to its average volume of 424,443. Audentes Therapeutics has a 1-year low of $24.51 and a 1-year high of $46.18. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -8.14 and a beta of 0.73.

Audentes Therapeutics (NASDAQ:BOLD) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.07). Sell-side analysts forecast that Audentes Therapeutics will post -3.33 earnings per share for the current fiscal year.

In related news, CEO Matthew R. Patterson sold 12,952 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were 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 owns 12,952 shares of the company’s stock, valued at approximately $518,080. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Louis G. Lange sold 33,000 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $37.38, for a total transaction 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 approximately $13,681,042.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,039 shares of company stock valued at $2,925,260. Company insiders own 6.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BOLD. Partner Investment Management L.P. purchased a new stake in Audentes Therapeutics in the 2nd quarter worth $162,000. Cubist Systematic Strategies LLC purchased a new stake in Audentes Therapeutics in the 1st quarter worth $204,000. Dynamic Technology Lab Private Ltd purchased a new stake in Audentes Therapeutics in the 2nd quarter worth $226,000. Quantitative Systematic Strategies LLC purchased a new stake in Audentes Therapeutics in the 2nd quarter worth $231,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Audentes Therapeutics in the 2nd quarter worth $232,000. 96.74% of the stock is owned by institutional investors.

About Audentes Therapeutics

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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