Audentes Therapeutics (BOLD) Shares Gap Down to $29.83

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Shares of Audentes Therapeutics Inc (NASDAQ:BOLD) gapped down prior to trading on Thursday . The stock had previously closed at $31.32, but opened at $29.83. Audentes Therapeutics shares last traded at $27.13, with a volume of 4050992 shares trading hands.

Several equities analysts recently issued reports on the company. Mizuho reaffirmed a “buy” rating and set a $45.00 price objective on shares of Audentes Therapeutics in a report on Wednesday, October 3rd. Guggenheim assumed coverage on Audentes Therapeutics in a report on Tuesday. They set a “neutral” rating for the company. Zacks Investment Research raised Audentes Therapeutics from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, July 10th. HC Wainwright set a $40.00 price objective on Audentes Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Finally, BidaskClub cut Audentes Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Audentes Therapeutics presently has an average rating of “Hold” and an average price target of $35.45.

The firm has a market capitalization of $1.48 billion, a PE ratio of -8.14 and a beta of 0.73.

Audentes Therapeutics (NASDAQ:BOLD) last issued its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.07). As a group, analysts predict that Audentes Therapeutics Inc will post -3.33 EPS for the current fiscal year.

In other news, VP Suyash Prasad sold 10,000 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $36.88, for a total value of $368,800.00. Following the completion of the transaction, the vice president now directly owns 100 shares of the company’s stock, valued at $3,688. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Louis G. Lange sold 33,000 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $37.38, for a total value of $1,233,540.00. Following the completion of the transaction, the director now directly owns 365,999 shares of the company’s stock, valued at $13,681,042.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,039 shares of company stock valued at $2,925,260. Insiders own 6.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Partner Investment Management L.P. acquired a new position in shares of Audentes Therapeutics in the second quarter worth $162,000. Cubist Systematic Strategies LLC acquired a new position in shares of Audentes Therapeutics in the first quarter worth $204,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Audentes Therapeutics in the second quarter worth $226,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Audentes Therapeutics in the second quarter worth $231,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Audentes Therapeutics in the second quarter valued at $232,000. 96.74% of the stock is owned by institutional investors.

About Audentes Therapeutics (NASDAQ:BOLD)

Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients suffering from 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; AT982, which is in preclinical studies for the treatment of pompe disease; and AT307 that is in preclinical studies to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.

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