Applied Genetic Technologies Corp (NASDAQ:AGTC) was up 9% on Wednesday . The stock traded as high as $3.08 and last traded at $3.02, approximately 206,992 shares traded hands during mid-day trading. An increase of 113% from the average daily volume of 97,280 shares. The stock had previously closed at $2.77.
Several equities research analysts have recently weighed in on AGTC shares. Chardan Capital upgraded Applied Genetic Technologies from a “neutral” rating to a “buy” rating and set a $7.50 price target on the stock in a report on Tuesday, September 3rd. Janney Montgomery Scott started coverage on Applied Genetic Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $13.00 price target on the stock. Wedbush increased their price target on Applied Genetic Technologies from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Applied Genetic Technologies in a report on Wednesday, November 13th. Finally, TheStreet downgraded Applied Genetic Technologies from a “c-” rating to a “d” rating in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $11.32.
The firm has a fifty day simple moving average of $2.93 and a 200 day simple moving average of $3.47. The company has a market capitalization of $53.38 million, a PE ratio of -27.45 and a beta of 2.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.95 and a current ratio of 7.95.
Applied Genetic Technologies (NASDAQ:AGTC) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.06). Applied Genetic Technologies had a negative return on equity of 19.02% and a negative net margin of 4.81%. Research analysts expect that Applied Genetic Technologies Corp will post -2.43 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in Applied Genetic Technologies by 359.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,700 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 11,500 shares during the period. Millennium Management LLC purchased a new position in shares of Applied Genetic Technologies in the 3rd quarter valued at $79,000. Wells Fargo & Company MN increased its holdings in shares of Applied Genetic Technologies by 72.8% in the 2nd quarter. Wells Fargo & Company MN now owns 47,676 shares of the biotechnology company’s stock valued at $181,000 after acquiring an additional 20,082 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Applied Genetic Technologies by 21.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 57,902 shares of the biotechnology company’s stock valued at $219,000 after acquiring an additional 10,329 shares during the period. Finally, Wedbush Securities Inc. purchased a new position in shares of Applied Genetic Technologies in the 3rd quarter valued at $304,000. Institutional investors own 44.98% of the company’s stock.
About Applied Genetic Technologies (NASDAQ:AGTC)
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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