Wedbush Research Analysts Decrease Earnings Estimates for Applied Genetic Technologies Co. (NASDAQ:AGTC)

Applied Genetic Technologies Co. (NASDAQ:AGTC) – Stock analysts at Wedbush cut their Q3 2022 earnings per share (EPS) estimates for shares of Applied Genetic Technologies in a research report issued to clients and investors on Tuesday, January 11th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will post earnings of ($0.33) per share for the quarter, down from their previous forecast of ($0.24). Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Applied Genetic Technologies’ Q4 2022 earnings at ($0.20) EPS, FY2022 earnings at ($1.18) EPS, FY2023 earnings at ($0.66) EPS, FY2024 earnings at ($0.59) EPS and FY2025 earnings at ($0.50) EPS.

Several other equities research analysts have also recently weighed in on AGTC. BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of Applied Genetic Technologies in a research note on Friday, September 24th. Zacks Investment Research raised Applied Genetic Technologies from a “sell” rating to a “hold” rating in a research note on Friday, December 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $24.00 target price on shares of Applied Genetic Technologies in a research note on Friday, September 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $21.00.

Shares of AGTC stock opened at $1.74 on Friday. The stock has a market cap of $74.58 million, a price-to-earnings ratio of -1.04 and a beta of 1.89. The stock has a 50-day moving average of $2.12 and a 200-day moving average of $2.92. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 0.23. Applied Genetic Technologies has a 1-year low of $1.67 and a 1-year high of $9.67.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its quarterly earnings data on Tuesday, November 9th. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.05). During the same period last year, the company posted ($0.60) earnings per share.

Hedge funds have recently bought and sold shares of the company. Stifel Financial Corp lifted its holdings in Applied Genetic Technologies by 88.8% during the second quarter. Stifel Financial Corp now owns 85,569 shares of the biotechnology company’s stock worth $335,000 after acquiring an additional 40,250 shares during the period. Colony Group LLC lifted its holdings in Applied Genetic Technologies by 46.9% during the second quarter. Colony Group LLC now owns 174,908 shares of the biotechnology company’s stock worth $684,000 after acquiring an additional 55,860 shares during the period. Squarepoint Ops LLC lifted its holdings in Applied Genetic Technologies by 72.4% during the second quarter. Squarepoint Ops LLC now owns 153,125 shares of the biotechnology company’s stock worth $599,000 after acquiring an additional 64,290 shares during the period. Ergoteles LLC bought a new stake in Applied Genetic Technologies during the second quarter worth $727,000. Finally, Millennium Management LLC lifted its holdings in Applied Genetic Technologies by 92.6% during the second quarter. Millennium Management LLC now owns 1,751,318 shares of the biotechnology company’s stock worth $6,848,000 after acquiring an additional 841,970 shares during the period. Institutional investors own 30.55% of the company’s stock.

About Applied Genetic Technologies

Applied Genetic Technologies Corp. is a clinical stage biotechnology company, which engages in the development of gene therapy platform to develop transformational genetic therapies for patients suffering from rare and debilitating diseases. It has clinical trials in the field of ophthalmology, optogenetics, adrenoleukodystrophy, and otology.

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Earnings History and Estimates for Applied Genetic Technologies (NASDAQ:AGTC)

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