Q2 2023 EPS Estimates for Applied Genetic Technologies Co. Cut by Analyst (NASDAQ:AGTC)

Applied Genetic Technologies Co. (NASDAQ:AGTCGet Rating) – Research analysts at Wedbush lowered their Q2 2023 earnings per share (EPS) estimates for Applied Genetic Technologies in a research note issued to investors on Tuesday, November 22nd. Wedbush analyst D. Nierengarten now expects that the biotechnology company will earn ($0.26) per share for the quarter, down from their prior forecast of ($0.22). Wedbush currently has a “Neutral” rating on the stock. The consensus estimate for Applied Genetic Technologies’ current full-year earnings is ($0.63) per share. Wedbush also issued estimates for Applied Genetic Technologies’ Q3 2023 earnings at ($0.13) EPS, Q4 2023 earnings at ($0.13) EPS and FY2023 earnings at ($0.69) EPS.

AGTC has been the subject of a number of other reports. BTIG Research lowered Applied Genetic Technologies from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 28th. StockNews.com started coverage on Applied Genetic Technologies in a research note on Saturday, November 19th. They set a “sell” rating for the company. Chardan Capital lowered Applied Genetic Technologies from a “buy” rating to a “neutral” rating in a research note on Monday, October 24th. HC Wainwright lowered Applied Genetic Technologies from a “buy” rating to a “neutral” rating in a research note on Monday, October 24th. Finally, Wells Fargo & Company lowered Applied Genetic Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Applied Genetic Technologies has an average rating of “Hold” and a consensus price target of $7.33.

Applied Genetic Technologies Price Performance

Shares of Applied Genetic Technologies stock opened at $0.38 on Thursday. The stock has a 50 day moving average of $0.33 and a 200 day moving average of $0.52. Applied Genetic Technologies has a 12 month low of $0.23 and a 12 month high of $2.83. The firm has a market cap of $25.41 million, a PE ratio of -0.26 and a beta of 1.59. The company has a current ratio of 1.40, a quick ratio of 1.97 and a debt-to-equity ratio of 0.39.

Institutional Investors Weigh In On Applied Genetic Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGTC. Two Sigma Advisers LP raised its holdings in shares of Applied Genetic Technologies by 137.8% in the third quarter. Two Sigma Advisers LP now owns 104,749 shares of the biotechnology company’s stock worth $28,000 after buying an additional 60,700 shares during the period. Virtu Financial LLC raised its holdings in shares of Applied Genetic Technologies by 977.9% in the third quarter. Virtu Financial LLC now owns 116,488 shares of the biotechnology company’s stock worth $32,000 after buying an additional 105,681 shares during the period. Shay Capital LLC purchased a new stake in shares of Applied Genetic Technologies in the first quarter worth approximately $54,000. Empery Asset Management LP purchased a new stake in shares of Applied Genetic Technologies in the first quarter worth approximately $107,000. Finally, Citadel Advisors LLC raised its holdings in shares of Applied Genetic Technologies by 2,141.8% in the third quarter. Citadel Advisors LLC now owns 423,709 shares of the biotechnology company’s stock worth $115,000 after buying an additional 404,809 shares during the period. 22.05% of the stock is currently owned by hedge funds and other institutional investors.

About Applied Genetic Technologies

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Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. Its advanced product candidates include three ophthalmology development programs across two targets, including X-linked retinitis pigmentosa, which is in the Phase 1/2 clinical trials; and achromatopsia that is in Phase 1/2 clinical trials.

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

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