Applied Genetic Technologies Corporation (NASDAQ:AGTC) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $4.47 and last traded at $4.60, with a volume of 189,019 shares trading hands. The stock had previously closed at $4.70.

AGTC has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on Applied Genetic Technologies Corporation from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 11th. Cantor Fitzgerald set a $15.00 price target on Applied Genetic Technologies Corporation and gave the company a “hold” rating in a report on Wednesday, May 10th. Zacks Investment Research lowered Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. ValuEngine lowered Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, HC Wainwright set a $16.00 price target on Applied Genetic Technologies Corporation and gave the company a “buy” rating in a report on Saturday, June 10th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $13.81.

The stock has a market cap of $84.05 million, a PE ratio of 11.10 and a beta of 1.68. The stock has a 50-day moving average price of $4.79 and a 200-day moving average price of $5.73.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of Applied Genetic Technologies Corporation by 378.2% in the first quarter. Renaissance Technologies LLC now owns 252,013 shares of the biotechnology company’s stock worth $1,739,000 after acquiring an additional 199,313 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Applied Genetic Technologies Corporation in the second quarter worth about $954,000. Numeric Investors LLC increased its holdings in shares of Applied Genetic Technologies Corporation by 23.6% in the second quarter. Numeric Investors LLC now owns 780,088 shares of the biotechnology company’s stock worth $3,978,000 after acquiring an additional 148,799 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Applied Genetic Technologies Corporation by 1,080.3% in the second quarter. Goldman Sachs Group Inc. now owns 143,606 shares of the biotechnology company’s stock worth $732,000 after acquiring an additional 131,439 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Applied Genetic Technologies Corporation by 250.2% in the first quarter. Dimensional Fund Advisors LP now owns 159,883 shares of the biotechnology company’s stock worth $1,103,000 after acquiring an additional 114,230 shares in the last quarter. Institutional investors and hedge funds own 54.75% of the company’s stock.

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About Applied Genetic Technologies Corporation

Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. The Company develops gene therapy products designed to manage the lives of patients with severe diseases in ophthalmology. As of March 31, 2016, its product candidates included treatments for X-linked retinoschisis (XLRS), over two forms of achromatopsia (ACHM) and X-linked retinitis pigmentosa (XLRP).

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