Stock Worth Watching: Today Applied Genetic Technologies Corp Stock Reaches All-Time Low

Stock Worth Watching: Today Applied Genetic Technologies Corp Stock Reaches All Time Low

The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) reached all time low today, Oct, 17 and still has $7.49 target or 10.00% below today’s $8.32 share price. This indicates more downside for the $146.43M company. This technical setup was reported by Barchart.com. If the $7.49 PT is reached, the company will be worth $14.64 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 150,434 shares traded hands. Applied Genetic Technologies Corp (NASDAQ:AGTC) has declined 42.27% since March 14, 2016 and is downtrending. It has underperformed by 47.88% 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 stock has “Outperform” rating given by BMO Capital Markets on Tuesday, September 13. The rating was maintained by Stifel Nicolaus on Tuesday, February 9 with “Buy”. Chardan Capital Markets initiated it with “Buy” rating and $25 target price in Wednesday, July 22 report. The firm has “Buy” rating given on Friday, March 18 by Janney Capital. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) earned “Outperform” rating by Wedbush on Tuesday, September 13. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) has “Neutral” rating given on Monday, September 26 by Janney Capital. Wells Fargo initiated the stock with “Outperform” rating in Friday, December 4 report. The firm has “Hold” rating given on Tuesday, September 13 by Cantor Fitzgerald. TH Capital downgraded the shares of AGTC in a report on Tuesday, September 13 to “Neutral” rating. The company was maintained on Tuesday, September 13 by Stifel Nicolaus.

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.
Eventide Asset Mngmt Ltd holds 0.24% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 279,100 shares. Legal And General Gru Public Limited Co, a United Kingdom-based fund reported 2,282 shares. The California-based Blackrock Institutional Tru Na has invested 0% in Applied Genetic Technologies Corp (NASDAQ:AGTC). Blackrock Grp Ltd last reported 3,254 shares in the company. Perceptive Advisors Llc holds 0.65% or 658,851 shares in its portfolio. Moreover, Numeric Ltd has 0.09% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 720,969 shares. Moreover, Wells Fargo And Mn has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 5,366 shares. Alps has 25,339 shares for 0% of their US portfolio. Blackrock Incorporated holds 0% or 8,648 shares in its portfolio. Goldman Sachs Inc holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 50,868 shares. Panagora Asset Mngmt Inc has 225,696 shares for 0.02% of their US portfolio. Tower Rech Cap Limited Company (Trc) holds 863 shares or 0% of its portfolio. The Massachusetts-based Acadian Asset Mngmt Ltd Liability has invested 0.04% in Applied Genetic Technologies Corp (NASDAQ:AGTC). Qs Ltd Liability Corporation reported 300 shares or 0% of all its holdings. Nationwide Fund Advisors accumulated 0% or 9,987 shares.

Insider Transactions: Since September 16, 2016, the stock had 3 insider purchases, and 0 insider sales for $126,548 net activity. Shearman Mark S had bought 3,000 shares worth $26,602. 1,400 shares were bought by Potter Stephen W, worth $12,446. $87,500 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) was bought by BULLOCK LAWRENCE E.

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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