The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) reached all time low today, Oct, 28 and still has $6.50 target or 11.00% below today’s $7.30 share price. This indicates more downside for the $124.36M company. This technical setup was reported by Barchart.com. If the $6.50 PT is reached, the company will be worth $13.68M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 85,137 shares traded hands. Applied Genetic Technologies Corp (NASDAQ:AGTC) has declined 44.65% since March 28, 2016 and is downtrending. It has underperformed by 49.36% the S&P500.
Applied Genetic Technologies Corp (NASDAQ:AGTC) Ratings Coverage
Out of 8 analysts covering Applied Genetic (NASDAQ:AGTC), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. Applied Genetic has been the topic of 14 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Wells Fargo downgraded the stock to “Market Perform” rating in Tuesday, September 13 report. Janney Capital downgraded the stock to “Sell” rating in Tuesday, September 13 report. The firm has “Buy” rating by Janney Capital given on Friday, March 18. Cantor Fitzgerald downgraded the shares of AGTC in a report on Tuesday, September 13 to “Hold” rating. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) has “Neutral” rating given on Monday, September 26 by Janney Capital. Stifel Nicolaus maintained the stock with “Buy” rating in Tuesday, February 9 report. TH Capital downgraded the stock to “Neutral” rating in Tuesday, September 13 report. Wells Fargo initiated the stock with “Outperform” rating in Friday, December 4 report. Roth Capital downgraded the shares of AGTC in a report on Tuesday, September 13 to “Neutral” rating. The company was maintained on Tuesday, September 13 by Stifel Nicolaus.
According to Zacks Investment Research, “Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. It develops gene therapy products for inherited orphan ophthalmology diseases. Its lead product candidates in the preclinical stage include treatments for X-linked retinoschisis, Achromatopsia, and X-linked retinitis pigmentosa, which are diseases of the eye caused by mutations in single genes. Applied Genetic Technologies Corporation is headquartered in Alachua, Florida.”
Insitutional Activity: The institutional sentiment decreased to 1.66 in Q2 2016. Its down 0.17, from 1.83 in 2016Q1. The ratio dropped, as 6 funds sold all Applied Genetic Technologies Corp shares owned while 26 reduced positions. 11 funds bought stakes while 42 increased positions. They now own 10.69 million shares or 1.50% more from 10.53 million shares in 2016Q1.
Clearbridge Limited Liability holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 1,138 shares. Cadence Capital Ltd Co has 0.05% invested in the company for 46,268 shares. Price T Rowe Associate Md, a Maryland-based fund reported 189,981 shares. Tudor Invest Corporation Et Al holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 11,161 shares. California State Teachers Retirement Systems accumulated 26,619 shares or 0% of the stock. Goldman Sachs Gru accumulated 0% or 50,868 shares. Massachusetts Fincl Communication Ma has invested 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC). Stevens Cap Mngmt L P has 0.01% invested in the company for 10,483 shares. Spark Management Lc reported 133,600 shares or 0.18% of all its holdings. Blackrock Inv Mgmt Ltd Liability Com accumulated 48,754 shares or 0% of the stock. Moreover, Dafna Mgmt Ltd Limited Liability Company has 1.87% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 167,192 shares. The United Kingdom-based Gsa Ltd Liability Partnership has invested 0.02% in Applied Genetic Technologies Corp (NASDAQ:AGTC). Nationwide Fund Advisors accumulated 0% or 9,987 shares. Walleye Trading Ltd Liability Company holds 0% or 3,300 shares in its portfolio. Proshare Advsr accumulated 0% or 14,980 shares.
Insider Transactions: Since September 16, 2016, the stock had 3 insider buys, and 0 sales for $126,548 net activity. Another trade for 1,400 shares valued at $12,446 was made by Potter Stephen W on Friday, September 16. Shearman Mark S bought $26,602 worth of stock or 3,000 shares. BULLOCK LAWRENCE E also bought $87,500 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) on Monday, September 19.
More news for Applied Genetic Technologies Corp (NASDAQ:AGTC) were recently published by: Fool.com, which released: “Why Applied Genetic Technologies Corp. Is Tanking Today” on September 13, 2016. Marketwatch.com‘s article titled: “Applied Genetic Technologies Corp.” and published on April 22, 2014 is yet another important article.
AGTC Company Profile
Applied Genetic Technologies Corporation, incorporated on October 24, 2003, is a clinical-stage biotechnology company. The Firm 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). As of March 31, 2016, the Company was engaged in developing three discovery programs, targeting three indications based on the Company’s adeno-associated virus (AAV) vector technologies. The Firm is also developing Alpha-1 Antitrypsin Deficiency (Alpha 1).
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