Q2 2023 EPS Estimates for Applied Genetic Technologies Co. Cut by Analyst (NASDAQ:AGTC)

Applied Genetic Technologies Co. (NASDAQ:AGTCGet Rating) – Analysts at Wedbush decreased their Q2 2023 earnings per share (EPS) estimates for shares of Applied Genetic Technologies in a research report issued on Tuesday, November 22nd. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will post earnings per share of ($0.26) for the quarter, down from their prior estimate of ($0.22). Wedbush currently has a “Neutral” rating on the stock. The consensus estimate for Applied Genetic Technologies’ current full-year earnings is ($0.63) per share. Wedbush also issued estimates for Applied Genetic Technologies’ Q3 2023 earnings at ($0.13) EPS, Q4 2023 earnings at ($0.13) EPS and FY2023 earnings at ($0.69) EPS.

AGTC has been the topic of a number of other reports. Wells Fargo & Company lowered Applied Genetic Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 4th. StockNews.com began coverage on Applied Genetic Technologies in a research report on Saturday, November 19th. They issued a “sell” rating on the stock. HC Wainwright lowered Applied Genetic Technologies from a “buy” rating to a “neutral” rating in a research report on Monday, October 24th. Stifel Nicolaus lowered Applied Genetic Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Finally, BTIG Research lowered Applied Genetic Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.33.

Applied Genetic Technologies Price Performance

Shares of AGTC stock opened at $0.38 on Thursday. The firm has a market cap of $25.41 million, a P/E ratio of -0.26 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 $2.83. The business’s 50 day moving average price is $0.33 and its 200-day moving average price is $0.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.97 and a current ratio of 1.40.

Institutional Investors Weigh In On Applied Genetic Technologies

Several hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP boosted its holdings in Applied Genetic Technologies by 137.8% in the third quarter. Two Sigma Advisers LP now owns 104,749 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 60,700 shares in the last quarter. Virtu Financial LLC boosted its holdings in Applied Genetic Technologies by 977.9% in the third quarter. Virtu Financial LLC now owns 116,488 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 105,681 shares in the last quarter. Shay Capital LLC bought a new stake in Applied Genetic Technologies in the first quarter worth $54,000. Empery Asset Management LP bought a new stake in Applied Genetic Technologies in the first quarter worth $107,000. Finally, Citadel Advisors LLC boosted its holdings in Applied Genetic Technologies by 2,141.8% in the third quarter. Citadel Advisors LLC now owns 423,709 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 404,809 shares in the last quarter. 22.05% of the stock is currently owned by institutional investors.

About Applied Genetic Technologies

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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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Earnings History and Estimates for Applied Genetic Technologies (NASDAQ:AGTC)

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