Noteworthy Price Action: Could Applied Genetic Technologies Corp Change Direction After Today’s Significant Decline?

Noteworthy Price Action: Could Applied Genetic Technologies Corp Change Direction After Today's Significant Decline?

The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) is a huge mover today! About 147,420 shares traded hands. Applied Genetic Technologies Corp (NASDAQ:AGTC) has declined 39.59% since April 14, 2016 and is downtrending. It has underperformed by 44.28% the S&P500.
The move comes after 7 months negative chart setup for the $173.97 million company. It was reported on Nov, 16 by Barchart.com. We have $8.17 PT which if reached, will make NASDAQ:AGTC worth $22.62M less.

Applied Genetic Technologies Corp (NASDAQ:AGTC) Ratings Coverage

Out of 8 analysts covering Applied Genetic (NASDAQ:AGTC), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Applied Genetic has been the topic of 17 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Chardan Capital Markets initiated Applied Genetic Technologies Corp (NASDAQ:AGTC) on Wednesday, July 22 with “Buy” rating. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) earned “Hold” rating by Cantor Fitzgerald on Tuesday, September 13. The stock has “Neutral” rating given by Roth Capital on Tuesday, September 13. The firm has “Buy” rating by Chardan Capital Markets given on Sunday, August 30. On Tuesday, September 13 the stock rating was downgraded by Janney Capital to “Sell”. The rating was initiated by Janney Capital with “Buy” on Friday, March 18. The stock has “Neutral” rating given by TH Capital on Tuesday, September 13. Janney Capital upgraded the stock to “Neutral” rating in Monday, September 26 report. The stock has “Buy” rating given by Stifel Nicolaus on Tuesday, February 9. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) earned “Buy” rating by Roth Capital on Wednesday, November 9.

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 worsened, 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.
Panagora Asset Mgmt Incorporated last reported 0.02% of its portfolio in the stock. Clearbridge Invests holds 1,138 shares or 0% of its portfolio. Credit Suisse Ag has 10,654 shares for 0% of their US portfolio. Barclays Public Ltd accumulated 0% or 213 shares. Altrinsic Advsr Ltd Liability Company reported 199,000 shares or 0.08% of all its holdings. Walleye Trading Ltd Liability has 3,300 shares for 0% of their US portfolio. Blackrock Management Ltd Liability Corp reported 48,754 shares or 0% of all its holdings. Mufg Americas Holdg Corporation accumulated 0% or 1,100 shares. Vanguard Inc has invested 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC). Spark Lc owns 133,600 shares or 0.18% of their US portfolio. Millennium Mngmt Limited Liability Corporation accumulated 81,652 shares or 0% of the stock. Goldman Sachs Group owns 50,868 shares or 0% of their US portfolio. Rhumbline Advisers, a Massachusetts-based fund reported 11,067 shares. Invesco Ltd, a Georgia-based fund reported 130,836 shares. American Century holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 137,620 shares.

Insider Transactions: Since September 16, 2016, the stock had 3 insider purchases, and 1 insider sale for $119,496 net activity. $26,602 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) shares were bought by Shearman Mark S. BULLOCK LAWRENCE E had bought 10,000 shares worth $87,500. Potter Stephen W had bought 1,400 shares worth $12,446 on Friday, September 16. The insider Chulay Jeffrey D. sold 1,000 shares worth $7,052.

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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