Audentes Therapeutics (NASDAQ:BOLD) Downgraded to Market Perform at BMO Capital Markets

James Marshall
December 5, 2019

More notable recent Audentes Therapeutics, Inc.

A number of other equities analysts have also recently issued reports on the company. Squarepoint Ops LLC boosted its position in shares of WEX by 173.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the biotechnology company's stock worth $68,000 after purchasing an additional 2,241 shares during the period. Aperio Group LLC acquired a new position in Audentes Therapeutics during the 2nd quarter worth about $46,000. Public Employees Retirement System of OH boosted its holdings in shares of WEX by 0.4% in the third quarter. Public Employees Retirement System of OH now owns 17,182 shares of the business services provider's stock valued at $3,472,000 after acquiring an additional 61 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Audentes Therapeutics by 1,137.6% during the third quarter. Meeder Asset Management Inc. now owns 726 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 619 shares in the last quarter.

Several hedge funds and other institutional investors have recently made changes to their positions in BOLD. ValuEngine cut shares of WEX from a "hold" rating to a "sell" rating in a report on Friday, November 1st.

Gene therapies are one of the hottest areas of drug research and Astellas, Japan's second-largest drugmaker by sales, is offering $60 per share for San Francisco-based Audentes, a 110% premium to its closing price on Monday. Evercore ISI upgraded Audentes Therapeutics from an in-line rating to an outperform rating in a research note on Wednesday, November 27th.

Shares of Audentes traded up about 105% to $58.69 on Tuesday, with a 52-week range of $17.95 to $58.99. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Audentes Therapeutics has an average rating of Hold and an average target price of $44.50. The shares were sold at an average price of $209.99, for a total value of $3,266,604.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. (NASDAQ:BOLD) were released by: Nasdaq.com and their article: "Retail Investors Should Watch These 3 Stocks After Black Friday - Nasdaq" published on November 25, 2019 as well as Benzinga.com's news article titled: "22 Stocks Moving in Tuesday's Pre-Market Session - Benzinga" with publication date: December 03, 2019.

Consummation of the transaction is subject to customary closing conditions, including U.S. antitrust clearance and the tender of a majority of Audentes' outstanding shares of common stock. The all-cash transaction is valued at approximately US$3 billion including the purchase of all common shares, options, restricted stock units and other securities. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,972 shares of company stock worth $5,539,629. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.04.

Shares of NYSE WEX opened at $195.90 on Wednesday. The stock has a 50 day moving average price of $28.32 and a 200-day moving average price of $33.21. WEX Inc has a 1-year low of $131.35 and a 1-year high of $221.66. Kelly Services had a net margin of 1.32% and a return on equity of 7.66%. The company has market cap of $2.69 billion.

Audentes Therapeutics (NASDAQ:BOLD) last issued its earnings results on Thursday, November 7th. For the next year, analysts expect that the company will report earnings of $2.14 per share, with EPS estimates ranging from $1.93 to $2.35. During the same quarter in the prior year, the firm posted ($0.97) EPS. WEX's quarterly revenue was up 19.0% on a year-over-year basis.

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. The team also includes corporate counsel Nicolas H.R. Dumont and associates Maureen Montgomery, Amy Zhang, Ryan Mitteness, Sawyer Li, Michael Ohta, Annie Omata, Mitchell Duncombe and Alan Huang, and law clerks Jared Leung and Karin Hjorth; executive compensation and employee benefits partners Matthew Cantor and Gerald Audant and associate Corinne Nhaissi; intellectual property and technology transactions associates Jennifer Yoon, Gregory Hopewell, Sophia Chen, Pinar Bailey and Sang Kwon, and law clerk Brandon Cheung; securities litigation associate Vincent Barredo; antitrust partner Mark Ostrau; and tax partner William Skinner and associate Ora Grinberg.

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