Audentes Therapeutics (NASDAQ:BOLD) Lowered to “Neutral” at Mizuho

Mizuho downgraded shares of Audentes Therapeutics (NASDAQ:BOLD) from a buy rating to a neutral rating in a research note released on Tuesday morning, The Fly reports.

Other equities analysts have also recently issued research reports about the stock. William Blair reiterated a hold rating on shares of Audentes Therapeutics in a research report on Wednesday, August 7th. BidaskClub lowered shares of Audentes Therapeutics from a sell rating to a strong sell rating in a research report on Friday, November 8th. Guggenheim cut Audentes Therapeutics from a buy rating to a neutral rating in a research note on Tuesday. Wedbush cut Audentes Therapeutics from an outperform rating to a neutral rating in a research note on Tuesday. Finally, HC Wainwright reiterated a buy rating and issued a $48.00 price objective on shares of Audentes Therapeutics in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. Audentes Therapeutics presently has a consensus rating of Hold and a consensus target price of $44.50.

BOLD opened at $58.93 on Tuesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -17.33 and a beta of 1.77. The stock has a 50-day moving average price of $28.32 and a 200-day moving average price of $33.21. Audentes Therapeutics has a 12-month low of $17.95 and a 12-month high of $59.01.

Audentes Therapeutics (NASDAQ:BOLD) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($1.00) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.07) by $0.07. During the same period in the previous year, the firm earned ($0.97) EPS. Research analysts expect that Audentes Therapeutics will post -4.13 EPS for the current fiscal year.

In related news, CEO Matthew R. Patterson sold 14,426 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.00, for a total transaction of $432,780.00. Following the transaction, the chief executive officer now owns 127,820 shares in the company, valued at approximately $3,834,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Louis G. Lange sold 10,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $32.16, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Audentes Therapeutics by 14.2% in the 2nd quarter. BlackRock Inc. now owns 3,333,445 shares of the biotechnology company’s stock worth $126,204,000 after buying an additional 413,768 shares during the last quarter. Great Point Partners LLC lifted its stake in Audentes Therapeutics by 29.2% in the third quarter. Great Point Partners LLC now owns 2,485,000 shares of the biotechnology company’s stock worth $69,804,000 after acquiring an additional 562,063 shares during the period. Vanguard Group Inc. lifted its stake in Audentes Therapeutics by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,971,206 shares of the biotechnology company’s stock worth $74,629,000 after acquiring an additional 84,659 shares during the period. Victory Capital Management Inc. boosted its holdings in Audentes Therapeutics by 2.7% in the second quarter. Victory Capital Management Inc. now owns 904,221 shares of the biotechnology company’s stock valued at $34,233,000 after acquiring an additional 23,620 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Audentes Therapeutics by 49.2% in the third quarter. Millennium Management LLC now owns 773,279 shares of the biotechnology company’s stock valued at $21,721,000 after acquiring an additional 255,086 shares in the last quarter. Institutional investors and hedge funds own 98.08% of the company’s stock.

About Audentes Therapeutics

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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