Audentes Therapeutics (NASDAQ:BOLD) Downgraded to Hold at Leerink Swann

Audentes Therapeutics (NASDAQ:BOLD) was downgraded by analysts at Leerink Swann from an “outperform” rating to a “hold” rating in a report released on Wednesday, MarketBeat reports. They presently have a $60.00 price objective on the biotechnology company’s stock. Leerink Swann’s target price suggests a potential upside of 1.27% from the company’s previous close.

Other analysts also recently issued reports about the company. ValuEngine downgraded Audentes Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. BidaskClub downgraded Audentes Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, November 8th. Wells Fargo & Co lowered their price target on Audentes Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday. Guggenheim cut Audentes Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, BMO Capital Markets downgraded shares of Audentes Therapeutics from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $47.00 to $60.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $46.29.

NASDAQ:BOLD opened at $59.25 on Wednesday. Audentes Therapeutics has a one year low of $17.95 and a one year high of $59.48. The company has a market cap of $2.71 billion, a PE ratio of -17.43 and a beta of 1.77. The firm has a 50-day moving average of $28.95 and a 200-day moving average of $33.31.

Audentes Therapeutics (NASDAQ:BOLD) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($1.00) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.07) by $0.07. During the same quarter in the prior year, the firm posted ($0.97) earnings per share. As a group, equities research analysts predict that Audentes Therapeutics will post -4.13 earnings per share for the current year.

In other Audentes Therapeutics news, CEO Matthew R. Patterson sold 14,426 shares of Audentes Therapeutics stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $30.00, for a total value of $432,780.00. Following the sale, the chief executive officer now owns 127,820 shares of the company’s stock, valued at $3,834,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $321,600.00. Following the completion of the transaction, the director now owns 276,044 shares in the company, valued at $8,877,575.04. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. Dupont Capital Management Corp bought a new position in Audentes Therapeutics during the second quarter valued at $745,000. Prudential Financial Inc. lifted its position in shares of Audentes Therapeutics by 272.3% during the 2nd quarter. Prudential Financial Inc. now owns 78,218 shares of the biotechnology company’s stock valued at $2,961,000 after buying an additional 57,210 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Audentes Therapeutics by 7.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 241,100 shares of the biotechnology company’s stock worth $6,772,000 after acquiring an additional 17,483 shares during the period. Altshuler Shaham Ltd bought a new position in shares of Audentes Therapeutics during the 2nd quarter worth $669,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Audentes Therapeutics during the 2nd quarter worth $993,000. 98.08% of the stock is currently 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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