Lord Abbett & CO. LLC cut its position in shares of Audentes Therapeutics Inc (NASDAQ:BOLD) by 53.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 432,558 shares of the biotechnology company’s stock after selling 501,201 shares during the quarter. Lord Abbett & CO. LLC owned approximately 1.01% of Audentes Therapeutics worth $9,222,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new position in Audentes Therapeutics in the third quarter valued at about $6,708,000. Assenagon Asset Management S.A. bought a new stake in shares of Audentes Therapeutics in the fourth quarter valued at approximately $1,539,000. Artal Group S.A. raised its position in shares of Audentes Therapeutics by 140.0% in the fourth quarter. Artal Group S.A. now owns 600,000 shares of the biotechnology company’s stock valued at $12,792,000 after purchasing an additional 350,000 shares during the period. BB Biotech AG bought a new stake in shares of Audentes Therapeutics in the fourth quarter valued at approximately $16,404,000. Finally, Virtu Financial LLC bought a new stake in shares of Audentes Therapeutics in the fourth quarter valued at approximately $219,000.
A number of analysts recently weighed in on the stock. ValuEngine raised shares of Audentes Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, March 15th. HC Wainwright reissued a “buy” rating and issued a $44.00 price target (up previously from $33.00) on shares of Audentes Therapeutics in a report on Monday. Zacks Investment Research lowered shares of Audentes Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. BidaskClub raised shares of Audentes Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. Finally, William Blair reissued a “hold” rating on shares of Audentes Therapeutics in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Audentes Therapeutics presently has an average rating of “Buy” and a consensus target price of $34.49.
Audentes Therapeutics (NASDAQ:BOLD) last announced its quarterly earnings data on Wednesday, February 27th. The biotechnology company reported ($0.84) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.91) by $0.07. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. As a group, analysts forecast that Audentes Therapeutics Inc will post -3.85 earnings per share for the current fiscal year.
In other Audentes Therapeutics news, CEO Matthew R. Patterson sold 21,000 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $30.00, for a total transaction of $630,000.00. Following the completion of the sale, the chief executive officer now owns 135,700 shares of the company’s stock, valued at approximately $4,071,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Suyash Prasad sold 10,000 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $30.06, for a total transaction of $300,600.00. Following the sale, the vice president now directly owns 28,236 shares of the company’s stock, valued at approximately $848,774.16. The disclosure for this sale can be found here. Insiders sold a total of 63,000 shares of company stock valued at $1,526,440 in the last ninety days. 6.60% of the stock is owned by corporate insiders.
About Audentes Therapeutics
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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