Audentes Therapeutics (NASDAQ:BOLD) PT Lowered to $19.00 at Wells Fargo & Co
Audentes Therapeutics (NASDAQ:BOLD) had its target price cut by equities research analysts at Wells Fargo & Co from $20.00 to $19.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Wells Fargo & Co‘s price objective would suggest a potential downside of 33.59% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Raymond James downgraded shares of Audentes Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Guggenheim downgraded shares of Audentes Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. William Blair reissued a “hold” rating on shares of Audentes Therapeutics in a research report on Wednesday, August 7th. Citigroup upgraded shares of Audentes Therapeutics from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $30.00 to $60.00 in a research note on Tuesday. Finally, Mizuho cut shares of Audentes Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Audentes Therapeutics presently has an average rating of “Hold” and a consensus price target of $43.57.
Shares of NASDAQ BOLD opened at $28.61 on Tuesday. Audentes Therapeutics has a twelve month low of $17.95 and a twelve month high of $41.65. The stock has a 50 day moving average of $27.71 and a two-hundred day moving average of $33.11. The stock has a market cap of $1.33 billion, a P/E ratio of -8.41 and a beta of 1.77.
In related news, Director Louis G. Lange sold 10,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $32.16, for a total transaction of $321,600.00. Following the completion of the transaction, the director now directly owns 276,044 shares of the company’s stock, valued at $8,877,575.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew R. Patterson sold 14,426 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were 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 approximately $3,834,600. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOLD. Great Point Partners LLC lifted its holdings in shares of Audentes Therapeutics by 29.2% in the 3rd quarter. Great Point Partners LLC now owns 2,485,000 shares of the biotechnology company’s stock valued at $69,804,000 after buying an additional 562,063 shares during the period. BlackRock Inc. boosted its stake in shares of Audentes Therapeutics by 14.2% in the second quarter. BlackRock Inc. now owns 3,333,445 shares of the biotechnology company’s stock valued at $126,204,000 after buying an additional 413,768 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Audentes Therapeutics by 118.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 592,947 shares of the biotechnology company’s stock worth $22,449,000 after acquiring an additional 321,756 shares during the period. Millennium Management LLC grew its holdings in Audentes Therapeutics by 49.2% during the third quarter. Millennium Management LLC now owns 773,279 shares of the biotechnology company’s stock worth $21,721,000 after acquiring an additional 255,086 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in Audentes Therapeutics in the second quarter worth $8,653,000. Institutional investors own 98.08% of the company’s stock.
Audentes Therapeutics Company Profile
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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