Applied Genetic Technologies Corp (NASDAQ:AGTC) has earned an average rating of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.58.

Several equities research analysts recently issued reports on the company. Chardan Capital raised Applied Genetic Technologies from a “neutral” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Tuesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Applied Genetic Technologies in a research report on Thursday, July 25th. Zacks Investment Research lowered Applied Genetic Technologies from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Janney Montgomery Scott initiated coverage on Applied Genetic Technologies in a research report on Friday, September 6th. They issued a “buy” rating and a $13.00 target price on the stock. Finally, ValuEngine raised Applied Genetic Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Applied Genetic Technologies stock traded down $0.05 during mid-day trading on Friday, hitting $3.68. The company’s stock had a trading volume of 128,201 shares, compared to its average volume of 109,492. The firm’s 50 day moving average is $3.48 and its 200 day moving average is $3.90. The company has a market cap of $67.78 million, a PE ratio of 37.30 and a beta of 2.55. Applied Genetic Technologies has a 52-week low of $2.26 and a 52-week high of $7.50.

A number of hedge funds have recently modified their holdings of AGTC. Geode Capital Management LLC increased its position in Applied Genetic Technologies by 15.2% in the 4th quarter. Geode Capital Management LLC now owns 82,686 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 10,909 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Applied Genetic Technologies by 3.5% during the 1st quarter. Acadian Asset Management LLC now owns 698,053 shares of the biotechnology company’s stock valued at $2,927,000 after acquiring an additional 23,299 shares during the last quarter. Altrinsic Global Advisors LLC increased its holdings 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 valued at $1,286,000 after acquiring an additional 60,000 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Applied Genetic Technologies by 72.8% during the 2nd quarter. Wells Fargo & Company MN now owns 47,676 shares of the biotechnology company’s stock valued at $181,000 after acquiring an additional 20,082 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Applied Genetic Technologies by 359.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,700 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 11,500 shares during the last quarter. 38.31% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Applied Genetic Technologies (NASDAQ:AGTC)

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