Allianz Asset Management AG decreased its stake in shares of Applied Genetic Technologies Corp (NASDAQ:AGTC) by 53.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,875 shares of the biotechnology company’s stock after selling 41,765 shares during the period. Allianz Asset Management AG owned 0.20% of Applied Genetic Technologies Corp worth $345,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. ClariVest Asset Management LLC acquired a new position in Applied Genetic Technologies Corp during the third quarter valued at about $204,000. Wells Fargo & Company MN boosted its stake in Applied Genetic Technologies Corp by 290.2% in the third quarter. Wells Fargo & Company MN now owns 20,936 shares of the biotechnology company’s stock valued at $205,000 after buying an additional 15,570 shares during the period. Acrospire Investment Management LLC boosted its stake in Applied Genetic Technologies Corp by 48.9% in the third quarter. Acrospire Investment Management LLC now owns 23,743 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 7,800 shares during the period. Smith Asset Management Group LP boosted its stake in Applied Genetic Technologies Corp by 2.1% in the third quarter. Smith Asset Management Group LP now owns 25,720 shares of the biotechnology company’s stock valued at $252,000 after buying an additional 520 shares during the period. Finally, Trexquant Investment LP bought a new stake in Applied Genetic Technologies Corp during the fourth quarter worth approximately $309,000. 56.91% of the stock is owned by hedge funds and other institutional investors.
Applied Genetic Technologies Corp (NASDAQ:AGTC) traded down 10.081% during mid-day trading on Friday, hitting $5.575. 339,012 shares of the stock traded hands. The company’s 50 day moving average price is $6.90 and its 200-day moving average price is $8.19. The stock has a market cap of $100.81 million, a price-to-earnings ratio of 9.696 and a beta of 1.69. Applied Genetic Technologies Corp has a 1-year low of $5.55 and a 1-year high of $19.86.
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AGTC has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Applied Genetic Technologies Corp from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a report on Tuesday, April 11th. Wedbush reiterated an “outperform” rating and set a $15.00 price objective on shares of Applied Genetic Technologies Corp in a report on Thursday, February 9th. Rodman & Renshaw started coverage on shares of Applied Genetic Technologies Corp in a research report on Wednesday, March 15th. They set a “buy” rating and a $16.00 price target on the stock. BMO Capital Markets dropped their price target on shares of Applied Genetic Technologies Corp from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 9th. Finally, Cantor Fitzgerald set a $15.00 price target on shares of Applied Genetic Technologies Corp and gave the company a “hold” rating in a research report on Wednesday, February 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Applied Genetic Technologies Corp has a consensus rating of “Buy” and a consensus price target of $13.91.
About Applied Genetic Technologies Corp
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).
