Audentes Therapeutics, Inc. (BOLD) Rating Reiterated by Bank of America Corporation
Audentes Therapeutics, Inc. (NASDAQ:BOLD)‘s stock had its “buy” rating reaffirmed by equities researchers at Bank of America Corporation in a report released on Friday. They presently have a $33.00 price target on the biotechnology company’s stock, up from their prior price target of $23.00. Bank of America Corporation’s price target would suggest a potential upside of 14.62% from the company’s previous close.
Other research analysts have also issued research reports about the stock. ValuEngine raised shares of Audentes Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Audentes Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Evercore ISI began coverage on shares of Audentes Therapeutics in a research note on Wednesday, August 16th. They set an “outperform” rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Audentes Therapeutics has an average rating of “Buy” and a consensus price target of $24.17.
Shares of Audentes Therapeutics (NASDAQ:BOLD) traded up 5.16% during mid-day trading on Friday, hitting $28.72. 186,883 shares of the stock were exchanged. The company’s 50-day moving average is $24.77 and its 200-day moving average is $24.77. The firm’s market cap is $797.96 million. Audentes Therapeutics has a 1-year low of $13.13 and a 1-year high of $29.29.
Audentes Therapeutics (NASDAQ:BOLD) last issued its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.10). Equities research analysts anticipate that Audentes Therapeutics will post ($3.50) earnings per share for the current fiscal year.
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In related news, CEO Matthew R. Patterson sold 2,850 shares of Audentes Therapeutics stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $20.00, for a total transaction of $57,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Suyash Prasad sold 8,000 shares of Audentes Therapeutics stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $21.44, for a total transaction of $171,520.00. Following the transaction, the vice president now directly owns 8,000 shares in the company, valued at approximately $171,520. The disclosure for this sale can be found here. Insiders have sold a total of 54,600 shares of company stock worth $1,184,620 in the last three months. 47.30% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in BOLD. Redmile Group LLC boosted its stake in Audentes Therapeutics by 77.8% during the 2nd quarter. Redmile Group LLC now owns 1,459,616 shares of the biotechnology company’s stock worth $27,922,000 after acquiring an additional 638,780 shares during the last quarter. Jennison Associates LLC lifted its stake in Audentes Therapeutics by 182.4% in the second quarter. Jennison Associates LLC now owns 846,273 shares of the biotechnology company’s stock valued at $16,189,000 after buying an additional 546,617 shares in the last quarter. Vanguard Group Inc. lifted its stake in Audentes Therapeutics by 130.3% in the second quarter. Vanguard Group Inc. now owns 678,412 shares of the biotechnology company’s stock valued at $12,978,000 after buying an additional 383,837 shares in the last quarter. State Street Corp lifted its stake in Audentes Therapeutics by 231.6% in the second quarter. State Street Corp now owns 221,276 shares of the biotechnology company’s stock valued at $4,234,000 after buying an additional 154,544 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Audentes Therapeutics by 31.5% in the second quarter. Alliancebernstein L.P. now owns 640,654 shares of the biotechnology company’s stock valued at $12,256,000 after buying an additional 153,617 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.
About Audentes Therapeutics
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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