The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) hit a new 52-week low and has $7.61 target or 11.00% below today’s $8.55 share price. The 5 months bearish chart indicates high risk for the $143.21 million company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $7.61 price target is reached, the company will be worth $15.75M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 92,162 shares traded hands. Applied Genetic Technologies Corp (NASDAQ:AGTC) has declined 37.64% since March 10, 2016 and is downtrending. It has underperformed by 45.16% the S&P500.
Applied Genetic Technologies Corp (NASDAQ:AGTC) Ratings Coverage
Out of 8 analysts covering Applied Genetic (NASDAQ:AGTC), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. $29 is the highest target while $20 is the lowest. The $22.25 average target is 160.23% above today’s ($8.55) stock price. Applied Genetic has been the topic of 14 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Tuesday, September 13, the company rating was downgraded by Wells Fargo. On Tuesday, September 13 the stock rating was maintained by Wedbush with “Outperform”. The firm has “Buy” rating by Janney Capital given on Friday, March 18. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) has “Outperform” rating given on Friday, December 4 by Wells Fargo. The rating was downgraded by Janney Capital on Tuesday, September 13 to “Sell”. The rating was upgraded by Janney Capital to “Neutral” on Monday, September 26. On Tuesday, September 13 the stock rating was downgraded by Roth Capital to “Neutral”. Cantor Fitzgerald downgraded Applied Genetic Technologies Corp (NASDAQ:AGTC) on Tuesday, September 13 to “Hold” rating. The company was maintained on Tuesday, September 13 by BMO Capital Markets. As per Tuesday, September 13, the company rating was downgraded by TH Capital.
According to Zacks Investment Research, “Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. It develops gene therapy products for inherited orphan ophthalmology diseases. Its lead product candidates in the preclinical stage include treatments for X-linked retinoschisis, Achromatopsia, and X-linked retinitis pigmentosa, which are diseases of the eye caused by mutations in single genes. Applied Genetic Technologies Corporation is headquartered in Alachua, Florida.”
Insitutional Activity: The institutional sentiment decreased to 1.66 in 2016 Q2. Its down 0.17, from 1.83 in 2016Q1. The ratio fall, as 6 funds sold all Applied Genetic Technologies Corp shares owned while 26 reduced positions. 11 funds bought stakes while 42 increased positions. They now own 10.69 million shares or 1.50% more from 10.53 million shares in 2016Q1.
Goldman Sachs Group accumulated 50,868 shares or 0% of the stock. Tfs Cap Llc holds 111,937 shares or 0.29% of its portfolio. Putnam Invs Limited Liability Corp last reported 455,429 shares in the company. Barclays Public Limited Com accumulated 0% or 213 shares. International Grp Incorporated accumulated 0% or 7,308 shares. Blackrock Institutional Tru Na holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 207,924 shares. Northern Trust, a Illinois-based fund reported 133,253 shares. Tower Rech Cap Lc (Trc) holds 0% or 863 shares in its portfolio. Adams Diversified Equity Fund, a Maryland-based fund reported 16,900 shares. Moreover, Diam Limited has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 7,398 shares. The New York-based Alliancebernstein Limited Partnership has invested 0% in Applied Genetic Technologies Corp (NASDAQ:AGTC). Aqr Capital Mgmt Ltd Company holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 60,016 shares. Perceptive Advisors Limited Com has 0.65% invested in the company for 658,851 shares. Moreover, California Employees Retirement Systems has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 18,000 shares. Allianz Asset Mngmt Ag holds 0% or 83,840 shares in its portfolio.
Insider Transactions: Since September 16, 2016, the stock had 3 insider buys, and 0 insider sales for $126,548 net activity. Shearman Mark S had bought 3,000 shares worth $26,602 on Thursday, September 22. $12,446 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) was bought by Potter Stephen W. BULLOCK LAWRENCE E bought 10,000 shares worth $87,500.
More recent Applied Genetic Technologies Corp (NASDAQ:AGTC) news were published by: Fool.com which released: “Why Applied Genetic Technologies Corp. Is Tanking Today” on September 13, 2016. Also Marketwatch.com published the news titled: “Applied Genetic Technologies Corp.” on April 22, 2014. Fool.com‘s news article titled: “Why Applied Genetic Technologies Corporation Stock Jumped Today” with publication date: July 02, 2015 was also an interesting one.
AGTC Company Profile
Applied Genetic Technologies Corporation, incorporated on October 24, 2003, is a clinical-stage biotechnology company. The Firm 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). As of March 31, 2016, the Company was engaged in developing three discovery programs, targeting three indications based on the Company’s adeno-associated virus (AAV) vector technologies. The Firm is also developing Alpha-1 Antitrypsin Deficiency (Alpha 1).
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