Applied Genetic Technologies (NASDAQ:AGTC) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Applied Genetic Technologies (NASDAQ:AGTC) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “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. “

Several other equities analysts also recently commented on the stock. BTIG Research restated a buy rating and issued a $11.00 price target on shares of Applied Genetic Technologies in a research note on Friday, September 24th. HC Wainwright restated a buy rating and issued a $24.00 price target on shares of Applied Genetic Technologies in a research note on Friday, September 24th. Finally, Wedbush restated an outperform rating on shares of Applied Genetic Technologies in a research note on Friday, September 24th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, Applied Genetic Technologies currently has a consensus rating of Buy and an average target price of $21.00.

NASDAQ AGTC opened at $2.44 on Wednesday. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $2.78 and its two-hundred day moving average price is $3.46. Applied Genetic Technologies has a 1 year low of $2.26 and a 1 year high of $9.67. The firm has a market capitalization of $104.59 million, a P/E ratio of -1.45 and a beta of 1.96.

Applied Genetic Technologies (NASDAQ:AGTC) last released its quarterly earnings data on Tuesday, November 9th. The biotechnology company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.05). During the same quarter in the previous year, the business posted ($0.60) EPS. On average, research analysts anticipate that Applied Genetic Technologies will post -1.48 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Colony Group LLC lifted its holdings in shares of Applied Genetic Technologies by 2.1% in the first quarter. Colony Group LLC now owns 119,048 shares of the biotechnology company’s stock worth $604,000 after acquiring an additional 2,456 shares during the last quarter. UBS Group AG lifted its holdings in shares of Applied Genetic Technologies by 90.9% in the first quarter. UBS Group AG now owns 10,166 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 4,842 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Applied Genetic Technologies by 14.5% in the first quarter. Stifel Financial Corp now owns 45,319 shares of the biotechnology company’s stock worth $230,000 after acquiring an additional 5,744 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Applied Genetic Technologies in the second quarter worth about $39,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Applied Genetic Technologies by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 274,601 shares of the biotechnology company’s stock worth $1,392,000 after acquiring an additional 10,865 shares during the last quarter. 32.59% of the stock is owned by institutional investors and hedge funds.

Applied Genetic Technologies Company Profile

Applied Genetic Technologies Corp. is a clinical stage biotechnology company, which engages in the development of gene therapy platform to develop transformational genetic therapies for patients suffering from rare and debilitating diseases. It has clinical trials in the field of ophthalmology, optogenetics, adrenoleukodystrophy, and otology.

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