Zacks Investment Research downgraded shares of Applied Genetic Technologies (NASDAQ:AGTC) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
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. “
AGTC has been the topic of several other research reports. Stifel Nicolaus dropped their price objective on Applied Genetic Technologies from $15.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, September 14th. Cantor Fitzgerald dropped their price objective on Applied Genetic Technologies from $15.00 to $9.00 and set a neutral rating on the stock in a research note on Thursday, September 14th. BMO Capital Markets reiterated an outperform rating and issued a $7.00 price objective (down previously from $14.00) on shares of Applied Genetic Technologies in a research note on Thursday, September 14th. ValuEngine downgraded Applied Genetic Technologies from a hold rating to a sell rating in a research note on Friday, September 15th. Finally, HC Wainwright reiterated a buy rating and issued a $8.00 price objective on shares of Applied Genetic Technologies in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Applied Genetic Technologies currently has an average rating of Hold and an average target price of $10.17.
Applied Genetic Technologies (AGTC) remained flat at $$4.30 during trading on Tuesday. 36,500 shares of the company were exchanged, compared to its average volume of 126,800. Applied Genetic Technologies has a 12-month low of $3.25 and a 12-month high of $9.60. The firm has a market cap of $77.80, a PE ratio of -16.54 and a beta of 1.61.
Institutional investors have recently bought and sold shares of the stock. Nine Chapters Capital Management LLC purchased a new position in Applied Genetic Technologies in the third quarter valued at approximately $113,000. Citadel Advisors LLC raised its holdings in Applied Genetic Technologies by 304.6% during the 3rd quarter. Citadel Advisors LLC now owns 41,270 shares of the biotechnology company’s stock valued at $163,000 after acquiring an additional 31,070 shares during the period. Virtu KCG Holdings LLC bought a new stake in Applied Genetic Technologies during the 2nd quarter valued at $178,000. ClariVest Asset Management LLC raised its holdings in Applied Genetic Technologies by 18.5% during the 3rd quarter. ClariVest Asset Management LLC now owns 99,013 shares of the biotechnology company’s stock valued at $391,000 after acquiring an additional 15,491 shares during the period. Finally, Ativo Capital Management LLC bought a new stake in Applied Genetic Technologies during the 2nd quarter valued at $439,000. Institutional investors and hedge funds own 46.83% of the company’s stock.
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About Applied Genetic Technologies
Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. The Company 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).
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