Autolus Therapeutics Shares Rise After Positive Earnings Report

Autolus Therapeutics plc (NASDAQ:AUTL) saw its stock price increase before the market opened on Thursday, spurred by a better-than-expected earnings announcement.

The shares closed the previous day at $1.94 but opened higher at $2.01. After some trading, Autolus Therapeutics stock was last seen at $1.92, with a trading volume of 220,321 shares.

For the latest quarter, the company reported earnings of ($0.09) per share, which exceeded analysts’ average estimate of ($0.21) by $0.12. However, the actual revenue was reported at $0.03 million, significantly lower than the anticipated revenue of $2.98 million.

Analyst Ratings Adjustments

In light of recent developments, several equity analysts have updated their evaluations of Autolus Therapeutics. Wells Fargo & Company revised their target price for the stock from $8.00 to $6.00, maintaining an “overweight” rating. Meanwhile, Needham & Company LLC reaffirmed a “buy” rating on the stock and set a target price of $10.00.

As per MarketBeat.com, the shares have been given a “Buy” rating on average by six investment analysts, with an average target price of $9.52.

Changes in Institutional Holdings

There have been notable changes in the holdings of institutional investors in Autolus Therapeutics. Virtus ETF Advisers LLC increased its stake by 29.9%, now owning 26,429 shares valued at $62,000 after acquiring 6,081 additional shares. Similarly, Daiwa Securities Group Inc. boosted its investment by 55.5%, bringing their total to 23,743 shares worth $56,000.

In the third quarter, Bellevue Group AG raised their holdings by 27.7%, now owning 41,500 shares valued at $151,000, while State Street Corp increased their stake by 1.7% with 606,544 shares valued at $2,202,000. Barclays PLC reported a dramatic increase in its stake by 1,094.3%, now holding 11,859 shares worth $28,000. Currently, 72.83% of Autolus Therapeutics shares are held by institutional investors and hedge funds.

Stock Performance Metrics

As of now, Autolus Therapeutics shares have seen an increase of 1.5%. The 50-day moving average for the stock stands at $2.02, while the 200-day moving average is slightly higher at $2.92. The company’s market capitalization is approximately $452.36 million, with a PE ratio of -1.40, and a beta of 2.07.

Overview of Autolus Therapeutics

Autolus Therapeutics plc is a clinical-stage biopharmaceutical company focused on developing T cell therapies aimed at treating cancer and autoimmune disorders. The company’s main clinical programs include:

• obecabtagene autoleucel (AUTO1), an investigational therapy in Phase 1b/2 for adult acute lymphoblastic leukemia (ALL)
• AUTO1/22, currently in Phase 1 trial for pediatric patients with relapsed or refractory ALL
• AUTO4, targeting peripheral T-cell lymphoma
• AUTO6NG, for neuroblastoma treatment
• AUTO8, which aims to treat multiple myeloma

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