Applied Genetic Technologies Corp. (NASDAQ:AGTC)’s share price was up 3.5% during trading on Tuesday . The stock traded as high as $9.02 and last traded at $8.88, with a volume of 232,216 shares. The stock had previously closed at $8.58.

Several equities analysts have recently commented on AGTC shares. Roth Capital lowered shares of Applied Genetic Technologies Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $34.00 to $12.00 in a research report on Tuesday, September 13th. BMO Capital Markets lowered their price target on shares of Applied Genetic Technologies Corp. from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, September 13th. Wells Fargo & Co. lowered shares of Applied Genetic Technologies Corp. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 13th. Stifel Nicolaus lowered their price target on shares of Applied Genetic Technologies Corp. from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, September 13th. Finally, Wedbush lowered their price target on shares of Applied Genetic Technologies Corp. from $36.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $17.44.

The company’s market capitalization is $160.67 million. The stock’s 50-day moving average price is $13.46 and its 200 day moving average price is $14.81.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) last announced its quarterly earnings data on Monday, September 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the 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 company’s revenue was up 1604.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.48) EPS. Equities research analysts forecast that Applied Genetic Technologies Corp. will post ($0.61) earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of AGTC. Acadian Asset Management LLC boosted its position in shares of Applied Genetic Technologies Corp. by 234.3% in the first quarter. Acadian Asset Management LLC now owns 296,464 shares of the company’s stock valued at $4,145,000 after buying an additional 207,776 shares during the period. BlackRock Fund Advisors boosted its position in shares of Applied Genetic Technologies Corp. by 3.7% in the first quarter. BlackRock Fund Advisors now owns 462,972 shares of the company’s stock valued at $6,472,000 after buying an additional 16,541 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Applied Genetic Technologies Corp. by 13.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 162,328 shares of the company’s stock valued at $2,269,000 after buying an additional 19,736 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of Applied Genetic Technologies Corp. during the first quarter valued at approximately $197,000. Finally, Spark Investment Management LLC boosted its position in shares of Applied Genetic Technologies Corp. by 22.6% in the first quarter. Spark Investment Management LLC now owns 99,900 shares of the company’s stock valued at $1,396,000 after buying an additional 18,400 shares during the period. 60.17% of the stock is owned by hedge funds and other 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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