Audentes Therapeutics (BOLD) Shares Down 5.7%

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Shares of Audentes Therapeutics Inc (NASDAQ:BOLD) dropped 5.7% during trading on Tuesday . The stock traded as low as $20.11 and last traded at $21.01. Approximately 1,200,127 shares were traded during trading, an increase of 165% from the average daily volume of 453,491 shares. The stock had previously closed at $22.28.

BOLD has been the subject of several analyst reports. ValuEngine downgraded Audentes Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. William Blair downgraded Audentes Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 6th. Wedbush reduced their price objective on Audentes Therapeutics from $52.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, October 8th. Guggenheim initiated coverage on Audentes Therapeutics in a research note on Tuesday, October 9th. They set a “neutral” rating for the company. Finally, HC Wainwright set a $40.00 price objective on Audentes Therapeutics and gave the company a “buy” rating in a research note on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.29.

The company has a market cap of $951.13 million, a P/E ratio of -6.43 and a beta of 1.89.

Audentes Therapeutics (NASDAQ:BOLD) last posted its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.09). During the same quarter in the previous year, the firm earned ($0.88) earnings per share. On average, equities research analysts predict that Audentes Therapeutics Inc will post -3.44 EPS for the current fiscal year.

In other news, Director Louis G. Lange sold 24,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $22.49, for a total transaction of $539,760.00. Following the completion of the transaction, the director now directly owns 345,799 shares of the company’s stock, valued at approximately $7,777,019.51. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Suyash Prasad sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 100 shares of the company’s stock, valued at $3,688. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,087 shares of company stock valued at $2,946,940. Company insiders own 6.60% of the company’s stock.

Several hedge funds have recently modified their holdings of BOLD. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Audentes Therapeutics in the second quarter worth approximately $232,000. Wells Fargo & Company MN grew its holdings in shares of Audentes Therapeutics by 29.5% in the second quarter. Wells Fargo & Company MN now owns 398,155 shares of the biotechnology company’s stock worth $15,213,000 after purchasing an additional 90,618 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Audentes Therapeutics by 196.4% in the second quarter. State of Wisconsin Investment Board now owns 32,600 shares of the biotechnology company’s stock worth $1,246,000 after purchasing an additional 21,600 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Audentes Therapeutics by 82.9% in the second quarter. Rhumbline Advisers now owns 31,109 shares of the biotechnology company’s stock worth $1,189,000 after purchasing an additional 14,101 shares during the last quarter. Finally, Mackay Shields LLC bought a new position in shares of Audentes Therapeutics in the second quarter worth approximately $421,000. 84.48% of the stock is owned by institutional investors and hedge funds.

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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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