Audentes Therapeutics (NASDAQ:BOLD) had its price target cut by Wells Fargo & Co from $20.00 to $19.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the biotechnology company’s stock.
Other equities analysts have also issued research reports about the stock. William Blair reiterated a hold rating on shares of Audentes Therapeutics in a report on Wednesday, August 7th. HC Wainwright lowered Audentes Therapeutics from a buy rating to a neutral rating and set a $60.00 target price for the company. in a research report on Tuesday. BidaskClub downgraded Audentes Therapeutics from a sell rating to a strong sell rating in a report on Friday, November 8th. Wedbush lowered Audentes Therapeutics from an outperform rating to a neutral rating in a research report on Tuesday. Finally, Evercore ISI raised Audentes Therapeutics from an in-line rating to an outperform rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Audentes Therapeutics presently has a consensus rating of Hold and a consensus price target of $44.50.
Shares of NASDAQ BOLD opened at $58.93 on Tuesday. The company has a 50 day simple moving average of $28.32 and a 200 day simple moving average of $33.21. The firm has a market cap of $1.33 billion, a PE ratio of -17.33 and a beta of 1.77. Audentes Therapeutics has a 1 year low of $17.95 and a 1 year high of $59.01.
In related news, CEO Matthew R. Patterson sold 14,426 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.00, for a total transaction of $432,780.00. Following the completion of the sale, the chief executive officer now owns 127,820 shares of the company’s stock, valued at $3,834,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louis G. Lange sold 10,000 shares of Audentes Therapeutics stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $32.16, for a total value of $321,600.00. Following the completion of the sale, the director now owns 276,044 shares of the company’s stock, valued at $8,877,575.04. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in shares of Audentes Therapeutics by 578.5% in 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 boosted its stake in Audentes Therapeutics by 1,137.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 2,241 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Audentes Therapeutics by 50.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,990 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Audentes Therapeutics by 810.4% in the second quarter. Bank of Montreal Can now owns 4,106 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 3,655 shares during the period. 98.08% 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 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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