Applied Genetic Technologies Corp (NASDAQ:AGTC) Short Interest Update

Applied Genetic Technologies Corp (NASDAQ:AGTC) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 70,300 shares, a growth of 154.7% from the August 30th total of 27,600 shares. Based on an average daily volume of 155,900 shares, the short-interest ratio is currently 0.5 days. Currently, 0.6% of the shares of the stock are short sold.

A number of research analysts have weighed in on the company. Janney Montgomery Scott assumed coverage on Applied Genetic Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $13.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $18.00 price objective (up previously from $12.00) on shares of Applied Genetic Technologies in a report on Monday, September 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded Applied Genetic Technologies from a “sell” rating to a “hold” rating in a report on Friday. TheStreet lowered Applied Genetic Technologies from a “c-” rating to a “d” rating in a report on Monday, September 30th. Finally, Chardan Capital upgraded Applied Genetic Technologies from a “neutral” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $11.32.

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in shares of Applied Genetic Technologies by 359.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,700 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 11,500 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Applied Genetic Technologies by 72.8% in the 2nd quarter. Wells Fargo & Company MN now owns 47,676 shares of the biotechnology company’s stock worth $181,000 after acquiring an additional 20,082 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Applied Genetic Technologies by 21.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 57,902 shares of the biotechnology company’s stock worth $219,000 after acquiring an additional 10,329 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Applied Genetic Technologies by 28.8% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 81,624 shares of the biotechnology company’s stock worth $309,000 after acquiring an additional 18,265 shares during the last quarter. Finally, Colony Group LLC acquired a new stake in shares of Applied Genetic Technologies in the 2nd quarter worth $610,000. 37.34% of the stock is owned by institutional investors and hedge funds.

AGTC stock traded down $0.09 during midday trading on Friday, reaching $3.06. The stock had a trading volume of 69,319 shares, compared to its average volume of 277,258. The company’s fifty day simple moving average is $3.47 and its 200 day simple moving average is $3.85. The company has a market cap of $57.66 million, a price-to-earnings ratio of -27.82 and a beta of 2.64. Applied Genetic Technologies has a 52-week low of $2.26 and a 52-week high of $7.48.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its quarterly earnings data on Thursday, September 26th. The biotechnology company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.04). Applied Genetic Technologies had a negative net margin of 4.81% and a negative return on equity of 2.49%. The firm had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $0.71 million. On average, analysts predict that Applied Genetic Technologies will post -2.25 EPS for the current fiscal year.

About Applied Genetic Technologies

Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. The company's lead products consist of four ophthalmology development programs across three targets, including X-linked retinoschisis that is in Phase I/II clinical trials; X-linked retinitis pigmentosa, which is in Phase I/II clinical trials; and achromatopsia that is in Phase I/II clinical trials for the treatment of inherited retinal diseases, as well as a preclinical program in adrenoleukodystrophy, which is a disease of the central nervous system and otology.

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