The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) hit a new 52-week low and has $7.30 target or 12.00% below today’s $8.30 share price. The 9 months bearish chart indicates high risk for the $145.99 million company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $7.30 price target is reached, the company will be worth $17.52M 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 38,526 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. $29 is the highest target while $20 is the lowest. The $22.25 average target is 168.07% above today’s ($8.3) stock price. Applied Genetic has been the topic of 14 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Tuesday, September 13 by Roth Capital. The stock has “Outperform” rating given by BMO Capital Markets on Tuesday, September 13. TH Capital downgraded the shares of AGTC in a report on Tuesday, September 13 to “Neutral” rating. The firm earned “Buy” rating on Wednesday, July 22 by Chardan Capital Markets. Wells Fargo initiated the stock with “Outperform” rating in Friday, December 4 report. Wells Fargo downgraded the stock to “Market Perform” rating in Tuesday, September 13 report. As per Friday, March 18, the company rating was initiated by Janney Capital. The company was maintained on Tuesday, September 13 by Wedbush. As per Tuesday, September 13, the company rating was maintained by Stifel Nicolaus. On Tuesday, February 9 the stock rating was maintained by Stifel Nicolaus with “Buy”.
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 is negative, 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.
The New York-based Tocqueville Asset Mgmt L P has invested 0.01% in Applied Genetic Technologies Corp (NASDAQ:AGTC). Strs Ohio holds 0% or 42,300 shares in its portfolio. Panagora Asset Management reported 225,696 shares or 0.02% of all its holdings. Springbok Cap Mgmt Ltd Liability Corporation holds 0.01% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 5,000 shares. Moreover, Magee Thomson Invest Prtn Ltd Liability Corp has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 44 shares. Nationwide Fund Advisors holds 9,987 shares or 0% of its portfolio. Goldman Sachs Group owns 50,868 shares or 0% of their US portfolio. Blackrock Advsr Ltd Limited Liability Company has 51,526 shares for 0% of their US portfolio. Spark Inv Mgmt Limited Company last reported 0.18% of its portfolio in the stock. Cam Group Holdings A S holds 103,500 shares or 0.03% of its portfolio. Manufacturers Life Ins The holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 9,980 shares. Credit Suisse Ag last reported 10,654 shares in the company. Schroder Investment Mgmt Grp accumulated 69,048 shares or 0% of the stock. Allianz Asset Mngmt Ag accumulated 0% or 83,840 shares. Numeric Ltd Liability Corporation holds 0.09% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 720,969 shares.
Insider Transactions: Since September 16, 2016, the stock had 3 insider buys, and 0 selling transactions for $126,548 net activity. Shares for $26,602 were bought by Shearman Mark S on Thursday, September 22. Potter Stephen W bought $12,446 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) on Friday, September 16. BULLOCK LAWRENCE E also bought $87,500 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) shares.
More news for Applied Genetic Technologies Corp (NASDAQ:AGTC) were recently published by: Fool.com, which released: “Why Applied Genetic Technologies Corp. Is Tanking Today” on September 13, 2016. Marketwatch.com‘s article titled: “Applied Genetic Technologies Corp.” and published on April 22, 2014 is yet another important article.
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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