Applied Genetic Technologies Co. (NASDAQ:AGTC) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $9.00.
Several equities research analysts recently weighed in on AGTC shares. HC Wainwright set a $8.00 price objective on shares of Applied Genetic Technologies and gave the stock a “buy” rating in a report on Friday, February 9th. Wedbush reaffirmed an “outperform” rating on shares of Applied Genetic Technologies in a report on Friday, February 9th. ValuEngine downgraded shares of Applied Genetic Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research raised shares of Applied Genetic Technologies from a “sell” rating to a “hold” rating in a report on Friday, March 30th.
A number of institutional investors have recently modified their holdings of the business. Two Sigma Investments LP raised its position in Applied Genetic Technologies by 29.9% in the fourth quarter. Two Sigma Investments LP now owns 60,892 shares of the biotechnology company’s stock worth $219,000 after acquiring an additional 14,011 shares in the last quarter. Alambic Investment Management L.P. raised its position in Applied Genetic Technologies by 16.8% in the first quarter. Alambic Investment Management L.P. now owns 111,082 shares of the biotechnology company’s stock worth $428,000 after acquiring an additional 15,938 shares in the last quarter. Altrinsic Global Advisors LLC raised its position in Applied Genetic Technologies by 7.8% in the first quarter. Altrinsic Global Advisors LLC now owns 246,900 shares of the biotechnology company’s stock worth $951,000 after acquiring an additional 17,900 shares in the last quarter. Matarin Capital Management LLC bought a new stake in Applied Genetic Technologies in the first quarter worth about $126,000. Finally, Ancora Advisors LLC raised its position in Applied Genetic Technologies by 270.8% in the first quarter. Ancora Advisors LLC now owns 74,154 shares of the biotechnology company’s stock worth $285,000 after acquiring an additional 54,154 shares in the last quarter. Hedge funds and other institutional investors own 44.85% of the company’s stock.
AGTC stock traded down $0.45 during trading on Monday, hitting $4.80. The company had a trading volume of 6,423 shares, compared to its average volume of 60,441. The company has a market capitalization of $96.89 million, a P/E ratio of 242.50 and a beta of 2.07. Applied Genetic Technologies has a fifty-two week low of $3.25 and a fifty-two week high of $6.05.
Applied Genetic Technologies (NASDAQ:AGTC) last posted its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.04). The company had revenue of $3.60 million during the quarter, compared to analyst estimates of $6.41 million. Applied Genetic Technologies had a negative return on equity of 16.00% and a negative net margin of 65.96%. sell-side analysts expect that Applied Genetic Technologies will post -1.38 EPS for the current fiscal year.
About Applied Genetic Technologies
Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. The company's lead products consist of four ophthalmology development programs across three targets, including X-linked retinoschisis that is in Phase I/II clinical trials; X-linked retinitis pigmentosa, which is in Phase I/II clinical trials; and achromatopsia that is in Phase I/II clinical trials for the treatment of inherited retinal diseases, as well as a preclinical program in adrenoleukodystrophy, which is a disease of the central nervous system and otology.
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