Applied Genetic Technologies (NASDAQ:AGTC) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Applied Genetic Technologies (NASDAQ:AGTCGet Rating) in a report published on Friday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Several other research firms have also recently weighed in on AGTC. HC Wainwright cut shares of Applied Genetic Technologies from a buy rating to a neutral rating in a research report on Monday, October 24th. BTIG Research cut shares of Applied Genetic Technologies from a buy rating to a neutral rating in a research report on Wednesday, September 28th. Chardan Capital cut shares of Applied Genetic Technologies from a buy rating to a neutral rating in a research report on Monday, October 24th. Wells Fargo & Company cut shares of Applied Genetic Technologies from an overweight rating to an equal weight rating in a research report on Tuesday, October 4th. Finally, Stifel Nicolaus cut shares of Applied Genetic Technologies from a buy rating to a hold rating in a research report on Monday, October 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $7.33.

Applied Genetic Technologies Stock Performance

Applied Genetic Technologies stock opened at $0.40 on Friday. The firm’s fifty day moving average price is $0.34 and its 200-day moving average price is $0.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $26.71 million, a P/E ratio of -0.27 and a beta of 1.59. Applied Genetic Technologies has a fifty-two week low of $0.23 and a fifty-two week high of $3.18.

Hedge Funds Weigh In On Applied Genetic Technologies

Hedge funds have recently modified their holdings of the company. Shay Capital LLC purchased a new position in shares of Applied Genetic Technologies in the first quarter valued at about $54,000. Virtu Financial LLC bought a new stake in shares of Applied Genetic Technologies during the 1st quarter valued at about $75,000. Empery Asset Management LP bought a new stake in shares of Applied Genetic Technologies during the 1st quarter valued at about $107,000. Renaissance Technologies LLC boosted its stake in shares of Applied Genetic Technologies by 33.8% during the 1st quarter. Renaissance Technologies LLC now owns 118,840 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 30,000 shares in the last quarter. Finally, CI Investments Inc. bought a new stake in shares of Applied Genetic Technologies during the 1st quarter valued at about $173,000. Hedge funds and other institutional investors own 22.05% of the company’s stock.

Applied Genetic Technologies Company Profile

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Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. Its advanced product candidates include three ophthalmology development programs across two targets, including X-linked retinitis pigmentosa, which is in the Phase 1/2 clinical trials; and achromatopsia that is in Phase 1/2 clinical trials.

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Analyst Recommendations for Applied Genetic Technologies (NASDAQ:AGTC)

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