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 Friday.

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. “

Other analysts have also issued reports about the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $33.00 price target (up from $23.00) on shares of Audentes Therapeutics in a research note on Friday, September 22nd. ValuEngine upgraded Audentes Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Raymond James Financial, Inc. initiated coverage on Audentes Therapeutics in a research report on Thursday, October 12th. They set a “market perform” rating on the stock. Evercore ISI started coverage on Audentes Therapeutics in a research report on Wednesday, August 16th. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, Leerink Swann restated an “outperform” rating and issued a $29.00 target price (up previously from $22.00) on shares of Audentes Therapeutics in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.17.

Audentes Therapeutics (BOLD) traded up $0.18 during trading on Friday, reaching $27.57. The company’s stock had a trading volume of 183,915 shares, compared to its average volume of 178,617. Audentes Therapeutics has a 52 week low of $13.90 and a 52 week high of $33.43.

Audentes Therapeutics (NASDAQ:BOLD) last announced its quarterly earnings data on Tuesday, November 14th. The biotechnology company reported ($0.88) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.88). equities research analysts predict that Audentes Therapeutics will post -3.59 EPS for the current year.

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In related news, major shareholder Orbimed Advisors Llc sold 672,000 shares of Audentes Therapeutics stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $28.25, for a total value of $18,984,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Suyash Prasad sold 8,000 shares of Audentes Therapeutics stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $21.44, for a total value of $171,520.00. Following the completion of the transaction, the vice president now owns 8,000 shares of the company’s stock, valued at $171,520. The disclosure for this sale can be found here. In the last 90 days, insiders sold 776,500 shares of company stock worth $21,712,130. Insiders own 47.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Audentes Therapeutics by 139.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 25,600 shares of the biotechnology company’s stock valued at $490,000 after buying an additional 14,900 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Audentes Therapeutics during the second quarter valued at approximately $2,870,000. Wells Fargo & Company MN raised its holdings in Audentes Therapeutics by 278.5% during the first quarter. Wells Fargo & Company MN now owns 7,747 shares of the biotechnology company’s stock worth $132,000 after purchasing an additional 5,700 shares in the last quarter. Ardsley Advisory Partners raised its holdings in Audentes Therapeutics by 59.7% during the second quarter. Ardsley Advisory Partners now owns 20,072 shares of the biotechnology company’s stock worth $384,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in Audentes Therapeutics during the second quarter worth approximately $252,000. 77.19% of the stock is currently owned by institutional investors.

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).

Analyst Recommendations for Audentes Therapeutics (NASDAQ:BOLD)

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