Audentes Therapeutics (BOLD) Trading Down 14.9%

Audentes Therapeutics Inc (NASDAQ:BOLD) fell 14.9% on Friday . The stock traded as low as $36.45 and last traded at $40.81. 1,906,800 shares were traded during trading, an increase of 86% from the average session volume of 1,026,100 shares. The stock had previously closed at $35.53.

Several brokerages recently weighed in on BOLD. HC Wainwright began coverage on Audentes Therapeutics in a report on Wednesday, December 20th. They set a “buy” rating and a $37.00 target price for the company. ValuEngine cut Audentes Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Zacks Investment Research upgraded Audentes Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. William Blair restated a “buy” rating on shares of Audentes Therapeutics in a report on Friday. Finally, BMO Capital Markets set a $44.00 target price on Audentes Therapeutics and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.00.

Audentes Therapeutics (NASDAQ:BOLD) last released its quarterly earnings data on Tuesday, November 14th. The biotechnology company reported ($0.88) earnings per share for the quarter, hitting the consensus estimate of ($0.88). equities analysts predict that Audentes Therapeutics Inc will post -3.5 earnings per share for the current year.

In other Audentes Therapeutics news, SVP Mary Newman sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $26.84, for a total value of $268,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Louis G. Lange sold 18,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $30.88, for a total value of $555,840.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,000 shares of company stock valued at $1,052,480. Company insiders own 47.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOLD. Schwab Charles Investment Management Inc. lifted its holdings in Audentes Therapeutics by 139.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 25,600 shares of the biotechnology company’s stock worth $490,000 after buying an additional 14,900 shares during the period. Rhumbline Advisers purchased a new stake in Audentes Therapeutics in the 2nd quarter worth approximately $252,000. State of Wisconsin Investment Board purchased a new stake in Audentes Therapeutics in the 2nd quarter worth approximately $210,000. Bank of New York Mellon Corp lifted its holdings in Audentes Therapeutics by 180.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 52,900 shares of the biotechnology company’s stock worth $1,012,000 after buying an additional 34,057 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Audentes Therapeutics by 31.5% in the 2nd quarter. Alliancebernstein L.P. now owns 640,654 shares of the biotechnology company’s stock worth $12,256,000 after buying an additional 153,617 shares during the period. Institutional investors and hedge funds own 78.95% of the company’s stock.

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Audentes Therapeutics Company Profile

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).

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