Shares of Applied Genetic Technologies Corp (NASDAQ:AGTC) reached a new 52-week low on Wednesday following a dissappointing earnings announcement. The company traded as low as $4.05 and last traded at $4.05, with a volume of 486,527 shares. The stock had previously closed at $4.95.

The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.32). Applied Genetic Technologies Corp had a negative return on equity of 2.79% and a negative net margin of 9.79%. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $12.39 million. During the same quarter last year, the business earned $0.15 earnings per share. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year.

AGTC has been the topic of several research analyst reports. Zacks Investment Research cut Applied Genetic Technologies Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. ValuEngine cut Applied Genetic Technologies Corp from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, HC Wainwright set a $16.00 price objective on Applied Genetic Technologies Corp and gave the stock a “buy” rating in a research note on Thursday, August 10th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $13.81.

A number of hedge funds have recently bought and sold shares of the business. InterWest Venture Management Co lifted its stake in Applied Genetic Technologies Corp by 0.3% in the second quarter. InterWest Venture Management Co now owns 1,455,904 shares of the biotechnology company’s stock valued at $7,425,000 after buying an additional 3,688 shares during the last quarter. Numeric Investors LLC lifted its stake in Applied Genetic Technologies Corp by 23.6% in the second quarter. Numeric Investors LLC now owns 780,088 shares of the biotechnology company’s stock valued at $3,978,000 after buying an additional 148,799 shares during the last quarter. DAFNA Capital Management LLC lifted its stake in Applied Genetic Technologies Corp by 2.4% in the second quarter. DAFNA Capital Management LLC now owns 421,000 shares of the biotechnology company’s stock valued at $2,147,000 after buying an additional 10,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Applied Genetic Technologies Corp by 66.6% in the second quarter. Dimensional Fund Advisors LP now owns 266,441 shares of the biotechnology company’s stock valued at $1,359,000 after buying an additional 106,558 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Applied Genetic Technologies Corp by 378.2% in the first quarter. Renaissance Technologies LLC now owns 252,013 shares of the biotechnology company’s stock valued at $1,739,000 after buying an additional 199,313 shares during the last quarter. Institutional investors own 54.75% of the company’s stock.

The company has a market cap of $73.21 million, a P/E ratio of 9.67 and a beta of 1.68. The stock’s 50 day moving average price is $4.78 and its 200-day moving average price is $5.66.

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Applied Genetic Technologies Corp Company Profile

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).

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