Audentes Therapeutics (NASDAQ:BOLD) Shares Up 5.5% Following Better-Than-Expected Earnings

Audentes Therapeutics Inc (NASDAQ:BOLD) shot up 5.5% during trading on Friday following a better than expected earnings announcement. The company traded as high as $30.00 and last traded at $28.57, 614,594 shares were traded during mid-day trading. An increase of 25% from the average session volume of 490,504 shares. The stock had previously closed at $27.08.

The biotechnology company reported ($1.00) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.07) by $0.07. During the same quarter in the previous year, the firm earned ($0.97) earnings per share.

Several research firms have commented on BOLD. William Blair reaffirmed a “hold” rating on shares of Audentes Therapeutics in a research note on Wednesday, August 7th. Mizuho reaffirmed a “buy” rating and issued a $45.00 target price on shares of Audentes Therapeutics in a research note on Wednesday, August 7th. Robert W. Baird began coverage on shares of Audentes Therapeutics in a research note on Wednesday, October 2nd. They issued an “underperform” rating and a $10.00 target price for the company. Chardan Capital reaffirmed a “buy” rating and issued a $50.00 target price on shares of Audentes Therapeutics in a research note on Sunday, October 6th. Finally, ValuEngine lowered shares of Audentes Therapeutics from a “buy” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $40.76.

In related news, Director Louis G. Lange sold 10,000 shares of Audentes Therapeutics stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $32.16, for a total transaction of $321,600.00. Following the transaction, the director now owns 276,044 shares in the company, valued at approximately $8,877,575.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew R. Patterson sold 20,000 shares of Audentes Therapeutics stock in a transaction on Monday, August 12th. The shares were sold at an average price of $34.04, for a total transaction of $680,800.00. Following the transaction, the chief executive officer now owns 135,368 shares in the company, valued at approximately $4,607,926.72. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of BOLD. Meeder Asset Management Inc. lifted its holdings in shares of Audentes Therapeutics by 578.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 726 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 619 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Audentes Therapeutics during the 2nd quarter valued at $46,000. Tower Research Capital LLC TRC lifted its holdings in shares of Audentes Therapeutics by 1,137.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 2,241 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Audentes Therapeutics by 50.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,990 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Audentes Therapeutics by 810.4% during the 2nd quarter. Bank of Montreal Can now owns 4,106 shares of the biotechnology company’s stock valued at $155,000 after acquiring an additional 3,655 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -8.40 and a beta of 1.77. The company’s fifty day moving average is $28.15 and its two-hundred day moving average is $34.34.

Audentes Therapeutics Company Profile (NASDAQ:BOLD)

Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients living with serious, life-threatening rare 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; AT845, which is in preclinical studies for the treatment of pompe disease; and AT307 to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.

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