Roth Capital lowered shares of Applied Genetic Technologies Corp. (NASDAQ:AGTC) from a buy rating to a neutral rating in a report released on Tuesday morning. They currently have $12.00 price objective on the stock, down from their previous price objective of $34.00.

A number of other brokerages also recently issued reports on AGTC. Cantor Fitzgerald reissued a buy rating and set a $32.00 price objective on shares of Applied Genetic Technologies Corp. in a research report on Wednesday, June 22nd. BMO Capital Markets reduced their price objective on shares of Applied Genetic Technologies Corp. from $25.00 to $20.00 and set an outperform rating on the stock in a research report on Tuesday, September 13th. Wells Fargo & Co. downgraded shares of Applied Genetic Technologies Corp. from an outperform rating to a market perform rating in a research report on Tuesday, September 13th. Janney Montgomery Scott downgraded shares of Applied Genetic Technologies Corp. from a buy rating to a sell rating and reduced their target price for the stock from $23.00 to $11.00 in a research report on Tuesday, September 13th. Finally, Stifel Nicolaus reduced their target price on shares of Applied Genetic Technologies Corp. from $29.00 to $24.00 and set a buy rating on the stock in a research report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $17.44.

Shares of Applied Genetic Technologies Corp. (NASDAQ:AGTC) opened at 8.92 on Tuesday. The firm has a 50-day moving average of $14.20 and a 200 day moving average of $14.96. The company’s market cap is $161.03 million. Applied Genetic Technologies Corp. has a 12 month low of $8.58 and a 12 month high of $21.43.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) last issued its quarterly earnings data on Monday, September 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.08. The business had revenue of $12.10 million for the quarter. Applied Genetic Technologies Corp. had a negative net margin of 2.92% and a negative return on equity of 1.34%. The firm’s revenue for the quarter was up 1604.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.48) earnings per share. On average, analysts expect that Applied Genetic Technologies Corp. will post ($0.61) earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in AGTC. Numeric Investors LLC increased its stake in shares of Applied Genetic Technologies Corp. by 3.8% in the second quarter. Numeric Investors LLC now owns 720,969 shares of the company’s stock valued at $10,187,000 after buying an additional 26,670 shares during the period. Perceptive Advisors LLC boosted its position in Applied Genetic Technologies Corp. by 1.3% in the second quarter. Perceptive Advisors LLC now owns 658,851 shares of the company’s stock valued at $9,309,000 after buying an additional 8,260 shares in the last quarter. BlackRock Fund Advisors boosted its position in Applied Genetic Technologies Corp. by 20.1% in the second quarter. BlackRock Fund Advisors now owns 555,987 shares of the company’s stock valued at $7,856,000 after buying an additional 93,015 shares in the last quarter. Acadian Asset Management LLC boosted its position in Applied Genetic Technologies Corp. by 68.3% in the second quarter. Acadian Asset Management LLC now owns 498,825 shares of the company’s stock valued at $7,047,000 after buying an additional 202,361 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Applied Genetic Technologies Corp. by 7.7% in the second quarter. Vanguard Group Inc. now owns 445,962 shares of the company’s stock valued at $6,302,000 after buying an additional 31,762 shares in the last quarter. 60.17% of the stock is currently owned by institutional investors.

About Applied Genetic Technologies Corp.

Applied Genetic Technologies Corp is a United States-based clinical stage biotechnology company. The Company develops gene therapy products for the treatment of inherited and acquired diseases. Its products are used to treat Alpha One Antitrypsin Deficiency (Alpha-1), a respiratory disease caused by deficiencies in the tissue protective protein alpha one antitrypsin; and Lebers congenital amaurosis, an inherited condition causing early blindness.

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