Applied Genetic Technologies Corp (NASDAQ:AGTC) has been given an average rating of “Buy” by the seven research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.75.

A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Applied Genetic Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. HC Wainwright set a $6.00 price target on Applied Genetic Technologies and gave the stock a “buy” rating in a research report on Friday, April 12th. ValuEngine upgraded Applied Genetic Technologies from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Finally, TheStreet lowered Applied Genetic Technologies from a “c-” rating to a “d+” rating in a research report on Wednesday, January 2nd.

NASDAQ AGTC traded down $0.08 during trading hours on Thursday, reaching $4.56. 49,122 shares of the company’s stock were exchanged, compared to its average volume of 62,668. The firm has a market cap of $85.76 million, a PE ratio of -3.86 and a beta of 2.86. Applied Genetic Technologies has a one year low of $2.26 and a one year high of $7.50.

Applied Genetic Technologies (NASDAQ:AGTC) last released its quarterly earnings results on Thursday, February 7th. The biotechnology company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.41. The business had revenue of $5.93 million for the quarter. Applied Genetic Technologies had a negative return on equity of 19.73% and a negative net margin of 61.04%. On average, research analysts anticipate that Applied Genetic Technologies will post -1.25 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in AGTC. Alambic Investment Management L.P. boosted its position in Applied Genetic Technologies by 96.0% in the 4th quarter. Alambic Investment Management L.P. now owns 47,600 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 23,309 shares during the last quarter. Two Sigma Advisers LP boosted its position in Applied Genetic Technologies by 153.8% in the 4th quarter. Two Sigma Advisers LP now owns 80,729 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 48,922 shares during the last quarter. Geode Capital Management LLC boosted its position in Applied Genetic Technologies by 15.2% in the 4th quarter. Geode Capital Management LLC now owns 82,686 shares of the biotechnology company’s stock valued at $205,000 after buying an additional 10,909 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Applied Genetic Technologies by 64.9% in the 4th quarter. Two Sigma Investments LP now owns 206,522 shares of the biotechnology company’s stock valued at $514,000 after purchasing an additional 81,250 shares during the period. Finally, Steinberg Global Asset Management lifted its stake in shares of Applied Genetic Technologies by 27.6% in the 1st quarter. Steinberg Global Asset Management now owns 177,154 shares of the biotechnology company’s stock valued at $682,000 after purchasing an additional 38,266 shares during the period. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Applied Genetic Technologies Company Profile

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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