Shares of Applied Genetic Technologies Corp. (NASDAQ:AGTC) dropped 2.1% during mid-day trading on Thursday . The company traded as low as $15.08 and last traded at $15.22, with a volume of 55,265 shares traded. The stock had previously closed at $15.55.

AGTC has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $32.00 price objective on shares of Applied Genetic Technologies Corp. in a research note on Wednesday, June 22nd. Janney Montgomery Scott initiated coverage on shares of Applied Genetic Technologies Corp. in a research note on Friday, March 18th. They issued a “buy” rating and a $23.00 price objective for the company. BMO Capital Markets started coverage on shares of Applied Genetic Technologies Corp. in a research note on Monday, April 11th. They issued an “outperform” rating and a $25.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Applied Genetic Technologies Corp. in a research note on Tuesday, May 10th. Finally, Zacks Investment Research cut shares of Applied Genetic Technologies Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.00.

The firm’s market capitalization is $282.94 million. The company has a 50-day moving average price of $15.38 and a 200 day moving average price of $15.29.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The business had revenue of $12 million for the quarter, compared to analyst estimates of $12.98 million. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. The business’s revenue was up 4125.4% on a year-over-year basis. Equities analysts anticipate that Applied Genetic Technologies Corp. will post ($0.16) earnings per share for the current fiscal year.

A number of hedge funds have made changes to their positions in AGTC. Globeflex Capital L P acquired a new stake in shares of Applied Genetic Technologies Corp. during the fourth quarter valued at approximately $1,189,000. CAM Group Holding A S purchased a new position in Applied Genetic Technologies Corp. during the fourth quarter valued at about $1,428,000. Russell Frank Co purchased a new position in Applied Genetic Technologies Corp. during the fourth quarter valued at about $1,541,000. Finally, Jennison Associates LLC boosted its position in Applied Genetic Technologies Corp. by 0.5% in the fourth quarter. Jennison Associates LLC now owns 677,610 shares of the company’s stock valued at $13,823,000 after buying an additional 3,248 shares in the last quarter.

Applied Genetic Technologies Corp is a United States-based clinical stage biotechnology company. The Company develops gene therapy products for the treatment of inherited and acquired diseases. Its products are used to treat Alpha One Antitrypsin Deficiency (Alpha-1), a respiratory disease caused by deficiencies in the tissue protective protein alpha one antitrypsin; and Lebers congenital amaurosis, an inherited condition causing early blindness.

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