Applied Genetic Technologies Corp (NASDAQ:AGTC) – Equities researchers at Cantor Fitzgerald increased their FY2018 earnings estimates for shares of Applied Genetic Technologies in a research note issued on Monday. Cantor Fitzgerald analyst M. Goldstein now anticipates that the biotechnology company will earn ($2.38) per share for the year, up from their prior forecast of ($2.45). Cantor Fitzgerald has a “Hold” rating and a $9.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Applied Genetic Technologies’ FY2019 earnings at ($2.52) EPS.
Applied Genetic Technologies (NASDAQ:AGTC) last released its quarterly earnings results on Friday, February 9th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The company had revenue of $4.85 million during the quarter, compared to analysts’ expectations of $8.72 million. Applied Genetic Technologies had a negative net margin of 33.24% and a negative return on equity of 9.11%. Applied Genetic Technologies’s revenue was down 55.5% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share.
Applied Genetic Technologies (NASDAQ AGTC) traded down $0.05 during trading on Wednesday, hitting $3.80. 142,000 shares of the stock were exchanged, compared to its average volume of 118,627. Applied Genetic Technologies has a twelve month low of $3.25 and a twelve month high of $8.40.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Applied Genetic Technologies by 66.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 266,441 shares of the biotechnology company’s stock worth $1,359,000 after buying an additional 106,558 shares during the period. Goldman Sachs Group Inc. increased its stake in Applied Genetic Technologies by 1,080.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 143,606 shares of the biotechnology company’s stock worth $732,000 after buying an additional 131,439 shares during the period. Nine Chapters Capital Management LLC purchased a new stake in Applied Genetic Technologies during the 3rd quarter worth approximately $113,000. Citadel Advisors LLC increased its stake 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 worth $163,000 after buying an additional 31,070 shares during the period. Finally, Virtu KCG Holdings LLC purchased a new stake in Applied Genetic Technologies during the 2nd quarter worth approximately $178,000. 46.17% of the stock is currently owned by hedge funds and other institutional investors.
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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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