Applied DNA Sciences (NASDAQ:APDN) Upgraded at Zacks Investment Research

Applied DNA Sciences (NASDAQ:APDNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Applied DNA Sciences, Inc. provides proprietary DNA-embedded biotechnology security solutions, using non-human DNA, that verify authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized intrusion. They develop, market, and sub-license DNA security systems, supply-chain management systems and anti-counterfeit solutions. Applied DNA Sciences has an exclusive licensing and partnership agreement covering North America and Europe with Biowell Technology, Inc. of Taiwan. “

APDN has been the subject of several other reports. HC Wainwright cut their target price on shares of Applied DNA Sciences from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, February 11th. Maxim Group decreased their price target on shares of Applied DNA Sciences from $18.00 to $6.00 in a research note on Monday, February 14th.

Shares of APDN opened at $1.99 on Tuesday. The firm’s 50-day moving average price is $2.40 and its 200-day moving average price is $4.00. The firm has a market capitalization of $14.90 million, a price-to-earnings ratio of -1.05 and a beta of 1.00. Applied DNA Sciences has a 1-year low of $1.88 and a 1-year high of $8.10.

Applied DNA Sciences (NASDAQ:APDNGet Rating) last issued its earnings results on Thursday, February 10th. The technology company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.44). Applied DNA Sciences had a negative return on equity of 105.86% and a negative net margin of 123.04%. The firm had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $4.28 million. During the same period last year, the firm posted ($0.62) earnings per share. As a group, sell-side analysts expect that Applied DNA Sciences will post -1.32 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Delta Investment Management LLC raised its position in shares of Applied DNA Sciences by 50.0% in the 3rd quarter. Delta Investment Management LLC now owns 15,002 shares of the technology company’s stock valued at $81,000 after purchasing an additional 5,002 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Applied DNA Sciences during the 2nd quarter worth approximately $85,000. Dimensional Fund Advisors LP grew its stake in shares of Applied DNA Sciences by 31.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 19,334 shares of the technology company’s stock worth $104,000 after purchasing an additional 4,616 shares during the period. Geode Capital Management LLC grew its stake in shares of Applied DNA Sciences by 33.0% during the 3rd quarter. Geode Capital Management LLC now owns 53,373 shares of the technology company’s stock worth $287,000 after purchasing an additional 13,257 shares during the period. Finally, BlackRock Inc. grew its stake in Applied DNA Sciences by 27.3% in the 3rd quarter. BlackRock Inc. now owns 76,869 shares of the technology company’s stock valued at $415,000 after acquiring an additional 16,493 shares during the period. 7.44% of the stock is owned by hedge funds and other institutional investors.

Applied DNA Sciences Company Profile (Get Rating)

Applied DNA Sciences, Inc develops and markets DNA-based technology solutions for use in the nucleic acid-based in vitro diagnostics and preclinical nucleic-acid based drug development and manufacturing markets; and for supply chain security, anti-counterfeiting, and anti-theft technology purposes. The company's supply chain security and product authentication solutions include SigNature molecular tags that provide forensic power and protection for various applications used to fortify brand protection efforts and strengthen supply chain security, as well as mark, track, and convict criminals; SigNify IF portable DNA readers and SigNify consumable reagent test kits that provide real-time authentication of molecular tags in the field; and CertainT, which indicates the use of tagging, testing, and tracking platforms and solutions enabling manufacturers, brands, and trade organizations to convey proof of their product claims.

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