Stock of The Day: Could Applied Genetic Technologies Corp Change Direction After Reaching 52 Week Low?

Stock of The Day: Could Applied Genetic Technologies Corp Change Direction After Reaching 52 Week Low?

The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) hit a new 52-week low and has $6.05 target or 13.00% below today’s $6.95 share price. The 9 months bearish chart indicates high risk for the $121.27 million company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $6.05 price target is reached, the company will be worth $15.77 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 48,057 shares traded hands. Applied Genetic Technologies Corp (NASDAQ:AGTC) has declined 48.19% since March 30, 2016 and is downtrending. It has underperformed by 51.20% 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. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) has “Neutral” rating given on Monday, September 26 by Janney Capital. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, February 9. The firm earned “Buy” rating on Sunday, August 30 by Chardan Capital Markets. The firm has “Outperform” rating by Wells Fargo given on Friday, December 4. Stifel Nicolaus maintained the stock with “Buy” rating in Tuesday, September 13 report. The firm earned “Neutral” rating on Tuesday, September 13 by Roth Capital. On Tuesday, September 13 the stock rating was downgraded by Janney Capital to “Sell”. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) has “Outperform” rating given on Tuesday, September 13 by Wedbush. BMO Capital Markets maintained it with “Outperform” rating and $20 target price in Tuesday, September 13 report. The firm has “Buy” rating given on Friday, March 18 by Janney Capital.

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.
D E Shaw has 28,544 shares for 0% of their US portfolio. Renaissance Technologies Limited Liability Company has invested 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC). Rhumbline Advisers holds 11,067 shares or 0% of its portfolio. Century accumulated 137,620 shares or 0% of the stock. Nationwide Fund Advsr accumulated 0% or 9,987 shares. Moreover, Tfs Capital Limited Co has 0.29% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 111,937 shares. Price T Rowe Md holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 189,981 shares. Credit Suisse Ag, a Switzerland-based fund reported 10,654 shares. Adams Diversified Equity Fund, a Maryland-based fund reported 16,900 shares. Moreover, Bogle Inv Mngmt L P De has 0.03% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 30,797 shares. Vanguard Grp Inc owns 445,962 shares or 0% of their US portfolio. Globeflex Lp last reported 70,554 shares in the company. Moreover, California State Teachers Retirement System has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 26,619 shares. Oxford Asset last reported 164,317 shares in the company. Goldman Sachs Group reported 50,868 shares or 0% of all its holdings.

Insider Transactions: Since September 16, 2016, the stock had 3 insider purchases, and 0 selling transactions for $126,548 net activity. $26,602 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) shares were bought by Shearman Mark S. 10,000 shares with value of $87,500 were bought by BULLOCK LAWRENCE E on Monday, September 19. Potter Stephen W also bought $12,446 worth of Applied Genetic Technologies Corp (NASDAQ:AGTC) on Friday, September 16.

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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