Audentes Therapeutics, Inc. (NASDAQ:BOLD) is among the top losers of the stock market today, sinking -3.45% or (-1.23 points) to $34.44 from its previous close of $35.67. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 268698 contracts so far this session. BOLD shares had a relatively better volume day versus average trading capacity of 576.11 thousand shares, but with a 40.65 million float and a -6.4% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BOLD stock indicates that the average analyst price target is $44.8 per share. This means the stock has a potential increase of 30.08% from where the BOLD share price has been trading recently which is between $35.33 and $36.39. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $32.
The shorts are climbing into Audentes Therapeutics, Inc. (BOLD) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in BOLD shares. While short interest still represents only 4.62% of BOLD’s float, the number of shares shorted have risen by 53042. The number of shares shorted advanced to 1931185 shares, up from 1878143 shares during the preceding fortnight. With average daily trading volumes at 703505 shares, days to cover decreased to about 3.791348 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “How Does Investing In Audentes Therapeutics, Inc. (NASDAQ:BOLD) Impact The Volatility Of Your Portfolio?” and dated July 09, 2019.
During the recent trading session for Audentes Therapeutics, Inc. (NASDAQ:BOLD), the company witnessed their stock drop by $-4.29 over a week and tumble down $-2.77 from the price 20 days ago. When compared to their established 52-week high of $42.69, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/20/18. The recent low of $17.95 stood for a -19.33% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Audentes Therapeutics, Inc., the two-week RSI stands at 36.52. This figure suggests that BOLD stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BOLD readings is similarly very revealing as it has a stochastic reading of 7.9% at this stage. This figure means that BOLD share price today is being overbought.
Technical chart claims that Audentes Therapeutics, Inc. (BOLD) would settle between $36.26/share to $36.86/share level. However, if the stock price goes below the $35.2 mark, then the market for Audentes Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $34.74 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.55. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at H.C. Wainwright lifted target price for shares of BOLD but were stick to Buy recommendation for the stock in their opinion released on April 26. The price target has been raised from $44 to $48. Citigroup analysts have lowered their rating of Audentes Therapeutics, Inc. (NASDAQ:BOLD) stock from Neutral to Sell in a separate flash note issued to investors on April 26. Analysts at Chardan Capital Markets released an upgrade from Neutral to Buy for the stock, in a research note that dated back to February 25.
BOLD equity has an average rating of 2.15, with the figure leaning towards a bullish end. 13 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 11 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 10 analysts rated Audentes Therapeutics, Inc. (NASDAQ:BOLD) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.