Applied Genetic Technologies (NASDAQ:AGTC) Rating Lowered to Sell at ValuEngine

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ValuEngine cut shares of Applied Genetic Technologies (NASDAQ:AGTC) from a hold rating to a sell rating in a report released on Monday, ValuEngine reports.

A number of other research analysts have also recently issued reports on AGTC. TheStreet cut Applied Genetic Technologies from a c- rating to a d rating in a research note on Monday, September 30th. BMO Capital Markets boosted their target price on Applied Genetic Technologies from $9.00 to $16.00 and gave the company an outperform rating in a research note on Thursday, January 9th. HC Wainwright reissued a buy rating and issued a $18.00 target price on shares of Applied Genetic Technologies in a research note on Thursday, January 9th. Wedbush reissued a buy rating and issued a $12.00 target price on shares of Applied Genetic Technologies in a research note on Thursday, January 9th. Finally, Zacks Investment Research raised Applied Genetic Technologies from a sell rating to a hold rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $11.88.

Shares of Applied Genetic Technologies stock opened at $8.17 on Monday. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.08. Applied Genetic Technologies has a 12 month low of $2.52 and a 12 month high of $9.50. The business has a fifty day simple moving average of $4.16 and a 200 day simple moving average of $3.60. The stock has a market cap of $151.94 million, a PE ratio of -74.27 and a beta of 2.71.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that Applied Genetic Technologies will post -2.37 EPS for the current fiscal year.

In other Applied Genetic Technologies news, major shareholder Patrick Johan Hendrik Krol sold 81,162 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $5.24, for a total value of $425,288.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of AGTC. Wells Fargo & Company MN boosted its position in shares of Applied Genetic Technologies by 72.8% during the second quarter. Wells Fargo & Company MN now owns 47,676 shares of the biotechnology company’s stock worth $181,000 after buying an additional 20,082 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Applied Genetic Technologies by 359.4% during the second quarter. JPMorgan Chase & Co. now owns 14,700 shares of the biotechnology company’s stock worth $55,000 after buying an additional 11,500 shares during the period. Renaissance Technologies LLC boosted its position in shares of Applied Genetic Technologies by 8.0% during the second quarter. Renaissance Technologies LLC now owns 957,800 shares of the biotechnology company’s stock worth $3,630,000 after buying an additional 71,200 shares during the period. BlackRock Inc. boosted its position in shares of Applied Genetic Technologies by 10.1% during the second quarter. BlackRock Inc. now owns 310,941 shares of the biotechnology company’s stock worth $1,179,000 after buying an additional 28,429 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Applied Genetic Technologies by 28.8% during the second quarter. Jacobs Levy Equity Management Inc. now owns 81,624 shares of the biotechnology company’s stock worth $309,000 after buying an additional 18,265 shares during the period. 44.88% of the stock is owned by institutional investors.

About Applied Genetic Technologies

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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