Applied Genetic Technologies Corp (NASDAQ:AGTC) Sees Significant Increase in Short Interest

Applied Genetic Technologies Corp (NASDAQ:AGTC) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 62,900 shares, an increase of 45.9% from the September 30th total of 43,100 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 153,700 shares, the days-to-cover ratio is presently 0.4 days.

AGTC stock opened at $2.93 on Thursday. Applied Genetic Technologies has a 12 month low of $2.26 and a 12 month high of $7.35. The firm has a market cap of $56.11 million, a P/E ratio of -26.64 and a beta of 2.58. The company’s 50-day moving average price is $3.26 and its two-hundred day moving average price is $3.62.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.06). Applied Genetic Technologies had a negative net margin of 4.81% and a negative return on equity of 2.49%. As a group, equities research analysts forecast that Applied Genetic Technologies will post -2.25 EPS for the current fiscal year.

AGTC has been the topic of several recent analyst reports. Janney Montgomery Scott initiated coverage on shares of Applied Genetic Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $13.00 target price on the stock. ValuEngine raised shares of Applied Genetic Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Applied Genetic Technologies in a report on Wednesday. Chardan Capital raised shares of Applied Genetic Technologies from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Tuesday, September 3rd. Finally, Wedbush raised their target price on shares of Applied Genetic Technologies from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Applied Genetic Technologies presently has an average rating of “Buy” and an average price target of $11.32.

Several institutional investors have recently made changes to their positions in AGTC. Wedbush Securities Inc. acquired a new position in shares of Applied Genetic Technologies during the 3rd quarter valued at $304,000. Colony Group LLC acquired a new position in shares of Applied Genetic Technologies during the 2nd quarter valued at $610,000. D. E. Shaw & Co. Inc. lifted its position in shares of Applied Genetic Technologies by 21.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 57,902 shares of the biotechnology company’s stock valued at $219,000 after acquiring an additional 10,329 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Applied Genetic Technologies by 28.8% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 81,624 shares of the biotechnology company’s stock valued at $309,000 after acquiring an additional 18,265 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Applied Genetic Technologies by 10.1% during the 2nd quarter. BlackRock Inc. now owns 310,941 shares of the biotechnology company’s stock valued at $1,179,000 after acquiring an additional 28,429 shares during the period. 37.22% 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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