Applied Genetic Technologies Corp. (NASDAQ:AGTC) fell 7.2% during trading on Wednesday . The company traded as low as $13.39 and last traded at $13.58, with a volume of 64,190 shares. The stock had previously closed at $14.63.

A number of brokerages recently commented on AGTC. Zacks Investment Research raised Applied Genetic Technologies Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, May 11th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Applied Genetic Technologies Corp. in a research note on Tuesday, May 10th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $32.00 price objective on shares of Applied Genetic Technologies Corp. in a research note on Wednesday, June 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Applied Genetic Technologies Corp. in a research note on Tuesday, May 10th. One equities research 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. Applied Genetic Technologies Corp. has a consensus rating of “Buy” and an average target price of $26.00.

The firm’s market capitalization is $244.89 million. The stock’s 50-day moving average price is $15.31 and its 200-day moving average price is $15.07.

An institutional investor recently raised its position in Applied Genetic Technologies Corp. stock. Jennison Associates LLC boosted its position in shares of Applied Genetic Technologies Corp. (NASDAQ:AGTC) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 677,610 shares of the company’s stock after buying an additional 3,248 shares during the period. Jennison Associates LLC owned approximately 3.76% of Applied Genetic Technologies Corp. worth $13,823,000 at the end of the most recent 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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