Audentes Therapeutics Inc (NASDAQ:BOLD) shares shot up 5.3% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $36.74 and last traded at $36.24. 536,597 shares were traded during mid-day trading, an increase of 16% from the average session volume of 463,200 shares. The stock had previously closed at $34.43.
The biotechnology company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.09.
Several research firms have recently weighed in on BOLD. Raymond James Financial reissued a “hold” rating on shares of Audentes Therapeutics in a report on Thursday, January 4th. BMO Capital Markets set a $44.00 price objective on shares of Audentes Therapeutics and gave the company a “buy” rating in a report on Friday, January 5th. William Blair reissued a “buy” rating on shares of Audentes Therapeutics in a report on Friday, January 5th. Zacks Investment Research cut shares of Audentes Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Finally, Cowen reissued a “buy” rating on shares of Audentes Therapeutics in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $35.56.
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Audentes Therapeutics during the third quarter valued at approximately $143,000. Nationwide Fund Advisors increased its holdings in Audentes Therapeutics by 288.9% during the second quarter. Nationwide Fund Advisors now owns 8,594 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 6,384 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Audentes Therapeutics during the fourth quarter valued at approximately $208,000. MetLife Investment Advisors LLC purchased a new stake in Audentes Therapeutics during the fourth quarter valued at approximately $248,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Audentes Therapeutics by 1,086.0% during the second quarter. The Manufacturers Life Insurance Company now owns 13,580 shares of the biotechnology company’s stock valued at $260,000 after buying an additional 12,435 shares during the last quarter. 67.35% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $1,255.59, a price-to-earnings ratio of -10.66 and a beta of 0.89.
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About Audentes Therapeutics
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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