Applied Genetic Technologies (AGTC) Posts Quarterly Earnings Results, Misses Expectations By $0.20 EPS
Applied Genetic Technologies (NASDAQ:AGTC) posted its earnings results on Friday. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.20), Morningstar.com reports. Applied Genetic Technologies had a negative return on equity of 2.86% and a negative net margin of 8.78%. The firm had revenue of $4.85 million during the quarter, compared to the consensus estimate of $8.72 million. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue was down 55.5% compared to the same quarter last year.
Applied Genetic Technologies (NASDAQ:AGTC) traded down $0.30 on Friday, reaching $3.95. 225,574 shares of the company traded hands, compared to its average volume of 110,678. Applied Genetic Technologies has a one year low of $3.25 and a one year high of $8.40.
A number of institutional investors and hedge funds have recently bought and sold shares of AGTC. Virtu KCG Holdings LLC bought a new position in Applied Genetic Technologies during the second quarter valued at about $178,000. Dimensional Fund Advisors LP grew its position in Applied Genetic Technologies by 66.6% during the second quarter. Dimensional Fund Advisors LP now owns 266,441 shares of the biotechnology company’s stock valued at $1,359,000 after buying an additional 106,558 shares during the period. Goldman Sachs Group Inc. grew its position in Applied Genetic Technologies by 1,080.3% during the second quarter. Goldman Sachs Group Inc. now owns 143,606 shares of the biotechnology company’s stock valued at $732,000 after buying an additional 131,439 shares during the period. Nine Chapters Capital Management LLC bought a new position in Applied Genetic Technologies during the third quarter valued at about $113,000. Finally, ClariVest Asset Management LLC grew its position in Applied Genetic Technologies by 18.5% during the third quarter. ClariVest Asset Management LLC now owns 99,013 shares of the biotechnology company’s stock valued at $391,000 after buying an additional 15,491 shares during the period. Institutional investors own 46.59% of the company’s stock.
Applied Genetic Technologies Company Profile
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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