Price Action To Observe: After Achieving All-Time Low, Is Applied Genetic Technologies Corp’s Near-Term Analysis Positive?

Price Action To Observe: After Achieving All Time Low, Is Applied Genetic Technologies Corp's Near Term Analysis Positive?

The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) reached all time low today, Nov, 3 and still has $5.79 target or 11.00% below today’s $6.50 share price. This indicates more downside for the $117.38 million company. This technical setup was reported by Barchart.com. If the $5.79 PT is reached, the company will be worth $12.91M 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 78,186 shares traded hands. Applied Genetic Technologies Corp (NASDAQ:AGTC) has declined 54.98% since April 1, 2016 and is downtrending. It has underperformed by 56.20% 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. Wedbush maintained it with “Outperform” rating and $20 target price in Tuesday, September 13 report. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) earned “Buy” rating by Chardan Capital Markets on Wednesday, July 22. Stifel Nicolaus maintained Applied Genetic Technologies Corp (NASDAQ:AGTC) rating on Tuesday, February 9. Stifel Nicolaus has “Buy” rating and $29 price target. The rating was maintained by Chardan Capital Markets on Sunday, August 30 with “Buy”. BMO Capital Markets maintained it with “Outperform” rating and $20 target price in Tuesday, September 13 report. The company was downgraded on Tuesday, September 13 by TH Capital. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) has “Sell” rating given on Tuesday, September 13 by Janney Capital. The firm has “Neutral” rating by Janney Capital given on Monday, September 26. As per Friday, December 4, the company rating was initiated by Wells Fargo. On Friday, March 18 the stock rating was initiated by Janney Capital with “Buy”.

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 2016 Q2. Its down 0.17, from 1.83 in 2016Q1. The ratio turned negative, 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.
Proshare Advsrs Lc last reported 14,980 shares in the company. Cormorant Asset Mngmt Llc has invested 0.03% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC). Gsa Partners Ltd Liability Partnership reported 25,200 shares or 0.02% of all its holdings. Putnam Investments accumulated 0.02% or 455,429 shares. Moreover, Northern Corporation has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 133,253 shares. D E Shaw has 0% invested in the company for 28,544 shares. Rhumbline Advisers has 0% invested in the company for 11,067 shares. Citigroup has invested 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC). Allianz Asset Mngmt Ag holds 0% of its portfolio in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 83,840 shares. Perceptive Limited owns 658,851 shares or 0.65% of their US portfolio. The Connecticut-based Aqr Cap Limited Liability has invested 0% in Applied Genetic Technologies Corp (NASDAQ:AGTC). Goldman Sachs Group holds 0% or 50,868 shares in its portfolio. Numeric Invsts Limited Liability Corporation owns 720,969 shares or 0.09% of their US portfolio. The Pennsylvania-based Emerald Advisers Inc Pa has invested 0.2% in Applied Genetic Technologies Corp (NASDAQ:AGTC). Moreover, Blackrock Japan Comm Limited has 0% invested in Applied Genetic Technologies Corp (NASDAQ:AGTC) for 1,147 shares.

Insider Transactions: Since September 16, 2016, the stock had 3 insider buys, and 1 sale for $119,496 net activity. Chulay Jeffrey D. had sold 1,000 shares worth $7,052 on Tuesday, November 1. $26,602 worth of shares were bought by Shearman Mark S on Thursday, September 22. Potter Stephen W bought $12,446 worth of stock or 1,400 shares. 10,000 shares were bought by BULLOCK LAWRENCE E, worth $87,500.

More recent Applied Genetic Technologies Corp (NASDAQ:AGTC) news were published by: Fool.com which released: “Why Applied Genetic Technologies Corp. Is Tanking Today” on September 13, 2016. Also Marketwatch.com published the news titled: “Applied Genetic Technologies Corp.” on April 22, 2014. Globenewswire.com‘s news article titled: “AGTC Files Investigational New Drug Application for the Treatment of …” with publication date: October 19, 2016 was also an interesting one.

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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