Zacks Investment Research lowered shares of Applied Genetic Technologies Corp. (NASDAQ:AGTC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “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. “

Several other brokerages also recently commented on AGTC. Cantor Fitzgerald reaffirmed a buy rating and issued a $32.00 target price on shares of Applied Genetic Technologies Corp. in a research note on Wednesday, June 22nd. Janney Montgomery Scott downgraded shares of Applied Genetic Technologies Corp. from a buy rating to a sell rating and decreased their target price for the stock from $23.00 to $11.00 in a research note on Tuesday, September 13th. Roth Capital downgraded shares of Applied Genetic Technologies Corp. from a buy rating to a neutral rating and decreased their target price for the stock from $34.00 to $12.00 in a research note on Tuesday, September 13th. Wedbush decreased their target price on shares of Applied Genetic Technologies Corp. from $36.00 to $20.00 and set an outperform rating on the stock in a research note on Tuesday, September 13th. Finally, Stifel Nicolaus decreased their target price on shares of Applied Genetic Technologies Corp. from $29.00 to $24.00 and set a buy rating on the stock in a research note on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $17.00.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) opened at 8.42 on Wednesday. The firm’s market capitalization is $152.01 million. The stock has a 50 day moving average of $10.67 and a 200 day moving average of $14.25. Applied Genetic Technologies Corp. has a 12 month low of $8.29 and a 12 month high of $21.43.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) last issued its earnings results on Monday, September 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.07 by $0.08. Applied Genetic Technologies Corp. had a negative net margin of 2.92% and a negative return on equity of 1.34%. The company had revenue of $12.10 million for the quarter. During the same period in the previous year, the firm earned ($0.48) earnings per share. The firm’s quarterly revenue was up 1604.2% compared to the same quarter last year. On average, equities analysts predict that Applied Genetic Technologies Corp. will post ($0.61) earnings per share for the current fiscal year.

In other news, insider Mark S. Shearman purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were bought at an average price of $8.87 per share, for a total transaction of $26,610.00. Following the purchase, the insider now directly owns 1,700 shares in the company, valued at approximately $15,079. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Lawrence E. Bullock purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was purchased at an average price of $8.75 per share, for a total transaction of $87,500.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at $87,500. The disclosure for this purchase can be found here. 2.46% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. raised its position in shares of Applied Genetic Technologies Corp. by 24.9% in the second quarter. Alps Advisors Inc. now owns 25,339 shares of the company’s stock worth $358,000 after buying an additional 5,054 shares during the period. American Century Companies Inc. raised its position in shares of Applied Genetic Technologies Corp. by 61.0% in the second quarter. American Century Companies Inc. now owns 137,620 shares of the company’s stock worth $1,945,000 after buying an additional 52,155 shares during the period. Strs Ohio raised its position in shares of Applied Genetic Technologies Corp. by 3.7% in the second quarter. Strs Ohio now owns 42,300 shares of the company’s stock worth $597,000 after buying an additional 1,500 shares during the period. Smith Asset Management Group LP raised its position in shares of Applied Genetic Technologies Corp. by 292.5% in the second quarter. Smith Asset Management Group LP now owns 25,200 shares of the company’s stock worth $356,000 after buying an additional 18,780 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Applied Genetic Technologies Corp. during the second quarter worth $565,000. Institutional investors own 60.10% of the company’s stock.

About Applied Genetic Technologies Corp.

Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. The Company 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).

5 Day Chart for NASDAQ:AGTC

Receive News & Stock Ratings for Applied Genetic Technologies Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Genetic Technologies Corp. and related stocks with our FREE daily email newsletter.