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

Applied Genetic Technologies Corp (NASDAQ:AGTC) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 129,500 shares, a drop of 6.2% from the May 15th total of 138,100 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 50,300 shares, the short-interest ratio is presently 2.6 days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGTC. Dimensional Fund Advisors LP boosted its stake in shares of Applied Genetic Technologies by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 911,236 shares of the biotechnology company’s stock worth $2,269,000 after acquiring an additional 93,652 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Applied Genetic Technologies by 64.9% during the 4th quarter. Two Sigma Investments LP now owns 206,522 shares of the biotechnology company’s stock worth $514,000 after acquiring an additional 81,250 shares in the last quarter. Altrinsic Global Advisors LLC boosted its stake in shares of Applied Genetic Technologies by 24.3% during the 1st quarter. Altrinsic Global Advisors LLC now owns 306,900 shares of the biotechnology company’s stock worth $1,286,000 after acquiring an additional 60,000 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Applied Genetic Technologies by 153.8% in the fourth quarter. Two Sigma Advisers LP now owns 80,729 shares of the biotechnology company’s stock worth $201,000 after buying an additional 48,922 shares during the period. Finally, Steinberg Global Asset Management boosted its position in shares of Applied Genetic Technologies by 27.6% in the first quarter. Steinberg Global Asset Management now owns 177,154 shares of the biotechnology company’s stock worth $682,000 after buying an additional 38,266 shares during the period. 40.27% of the stock is owned by institutional investors and hedge funds.

NASDAQ AGTC remained flat at $$3.88 on Friday. The company’s stock had a trading volume of 196,082 shares, compared to its average volume of 46,273. The stock’s 50 day moving average is $3.77. The firm has a market capitalization of $70.50 million, a P/E ratio of 38.80 and a beta of 2.58. Applied Genetic Technologies has a 52-week low of $2.26 and a 52-week high of $7.50.

Applied Genetic Technologies (NASDAQ:AGTC) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.17. The firm had revenue of $21.32 million during the quarter, compared to analyst estimates of $0.50 million. Applied Genetic Technologies had a return on equity of 2.22% and a net margin of 4.06%. On average, analysts predict that Applied Genetic Technologies will post 0.01 EPS for the current fiscal year.

A number of research analysts have commented on AGTC shares. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. TheStreet upgraded Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. HC Wainwright raised their target price on Applied Genetic Technologies from $5.75 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Wedbush restated an “outperform” rating on shares of Purple Innovation in a research report on Wednesday, May 8th. Finally, Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.79.

Applied Genetic Technologies Company Profile

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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