Today’s Price Action: Could Applied Genetic Technologies Corp Gain Strenght? The Stock Reaches All-Time Low

Today's Price Action: Could Applied Genetic Technologies Corp Gain Strenght? The Stock Reaches All Time Low

The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) reached all time low today, Oct, 13 and still has $7.38 target or 13.00% below today’s $8.48 share price. This indicates more downside for the $142.12M company. This technical setup was reported by Barchart.com. If the $7.38 PT is reached, the company will be worth $18.48 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 114,613 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. Applied Genetic has been the topic of 14 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was downgraded on Tuesday, September 13 by TH Capital. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) has “Outperform” rating given on Friday, December 4 by Wells Fargo. The company was maintained on Tuesday, September 13 by BMO Capital Markets. The firm has “Neutral” rating by Roth Capital given on Tuesday, September 13. Janney Capital downgraded the stock to “Sell” rating in Tuesday, September 13 report. Stifel Nicolaus maintained the shares of AGTC in a report on Tuesday, September 13 with “Buy” rating. Chardan Capital Markets initiated Applied Genetic Technologies Corp (NASDAQ:AGTC) rating on Wednesday, July 22. Chardan Capital Markets has “Buy” rating and $25 price target. As per Tuesday, February 9, the company rating was maintained by Stifel Nicolaus. Janney Capital initiated the stock with “Buy” rating in Friday, March 18 report. The firm has “Outperform” rating given on Tuesday, September 13 by Wedbush.

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 Q2 2016. Its down 0.17, from 1.83 in 2016Q1. The ratio dived, 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.
California State Teachers Retirement System holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 26,619 shares. Moreover, Tower Research Capital Lc (Trc) has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 863 shares. State Street Corporation accumulated 268,156 shares or 0% of the stock. Moreover, Goldman Sachs Group Incorporated has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 50,868 shares. Emerald Mutual Fund Advisers Trust accumulated 0.33% or 416,498 shares. Moreover, Putnam Investments Ltd has 0.02% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 455,429 shares. Jpmorgan Chase And owns 150,798 shares or 0% of their US portfolio. D E Shaw & Incorporated has invested 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC). Cadence Management Ltd Limited Liability Company has 0.05% invested in the company for 46,268 shares. Moreover, Teachers Advisors has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 20,060 shares. Deutsche Savings Bank Ag holds 51,515 shares or 0% of its portfolio. Bnp Paribas Arbitrage has 0% invested in the company for 502 shares. Blackrock Inc holds 8,648 shares or 0% of its portfolio. Numeric Invsts Llc, a Massachusetts-based fund reported 720,969 shares. Citigroup has invested 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC).

Insider Transactions: Since September 16, 2016, the stock had 3 buys, and 0 selling transactions for $126,548 net activity. $12,446 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) was bought by Potter Stephen W. $26,602 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) was bought by Shearman Mark S on Thursday, September 22. BULLOCK LAWRENCE E bought $87,500 worth of stock or 10,000 shares.

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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