Applied Genetic Technologies Corporation (NASDAQ:AGTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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. “

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus cut their price target on Applied Genetic Technologies Corporation from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 11th. Rodman & Renshaw started coverage on Applied Genetic Technologies Corporation in a report on Wednesday, March 15th. They issued a “buy” rating and a $16.00 price target for the company. HC Wainwright set a $16.00 price target on Applied Genetic Technologies Corporation and gave the stock a “buy” rating in a report on Saturday, June 10th. ValuEngine cut Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Cantor Fitzgerald set a $15.00 price target on Applied Genetic Technologies Corporation and gave the stock a “hold” rating in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $13.81.

Applied Genetic Technologies Corporation (AGTC) traded down 4.00% on Tuesday, reaching $4.80. The company had a trading volume of 161,183 shares. The company has a market capitalization of $86.76 million, a PE ratio of 11.46 and a beta of 1.71. Applied Genetic Technologies Corporation has a 52-week low of $4.70 and a 52-week high of $17.00. The company’s 50-day moving average is $5.29 and its 200-day moving average is $7.00.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its earnings results on Wednesday, May 10th. The biotechnology company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $8.39 million for the quarter, compared to analysts’ expectations of $10.39 million. Applied Genetic Technologies Corporation had a return on equity of 6.62% and a net margin of 17.61%. The firm’s revenue for the quarter was down 30.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Equities analysts anticipate that Applied Genetic Technologies Corporation will post $0.33 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC acquired a new position in Applied Genetic Technologies Corporation during the fourth quarter valued at approximately $110,000. CAPROCK Group Inc. raised its position in Applied Genetic Technologies Corporation by 55.8% in the first quarter. CAPROCK Group Inc. now owns 17,215 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 6,165 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Applied Genetic Technologies Corporation during the first quarter valued at approximately $123,000. Wells Fargo & Company MN raised its position in Applied Genetic Technologies Corporation by 1.1% in the first quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 200 shares during the last quarter. Finally, Tudor Investment Corp Et Al raised its position in Applied Genetic Technologies Corporation by 20.6% in the fourth quarter. Tudor Investment Corp Et Al now owns 14,534 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 2,480 shares during the last quarter. Hedge funds and other institutional investors own 61.51% of the company’s stock.

About Applied Genetic Technologies Corporation

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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