Applied Genetic Technologies Corporation [AGTC] is -4.20% lower this YTD. Is it still time to buy?

Applied Genetic Technologies Corporation [NASDAQ: AGTC] traded at a low on 11/17/20, posting a -12.17 loss after which it closed the day’ session at $4.33. The company report on November 17, 2020 that AGTC Announces Financial Results and Business Update for the Quarter Ended September 30, 2020.

Applied Genetic Technologies Corporation (Nasdaq: AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare diseases, announced financial results for the quarter ended September 30, 2020. The Company is also providing an update on its ongoing clinical trials in patients with X-linked retinitis pigmentosa (XLRP) and achromatopsia (ACHM).

“The updated XLRP data that we reported last week provide evidence that our XLRP product candidate provides durable improvements in visual sensitivity and visual acuity over a wide dose range and has a favorable safety profile,” said Sue Washer, President and CEO of AGTC. “Data publicly reported by our competitors this weekend at the American Academy of Ophthalmology (AAO) Annual Meeting further increase our confidence that we have the industry-leading XLRP program. We are on track to initiate enrollment in the planned Phase 1/2 expansion trial (Skyline) in 4Q 2020 and the Phase 2/3 trial (Vista) in 1Q 2021. Additionally, new data from our ongoing ACHM trials have provided important insights for the potential development of our ACHM product candidates. We are pleased that we met our goal of reporting out data from all three ongoing clinical trials in 4Q 2020 and are now focused on advancing the Skyline and Vista trials for XLRP as rapidly as possible.”.

The results of the trading session contributed to over 1202487 shares changing hands. Over the past one week, the price volatility of Applied Genetic Technologies Corporation stands at 7.60% while the volatility over the past one month is 5.85%.

The market cap for AGTC stock reached $116.26 million, with 25.73 million shares outstanding and 25.60 million shares in the current float. Compared to the average trading volume of 261.29K shares, AGTC reached a trading volume of 1202487 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Applied Genetic Technologies Corporation [AGTC]?

Berenberg have made an estimate for Applied Genetic Technologies Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 11, 2020. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on June 23, 2020, representing the official price target for Applied Genetic Technologies Corporation stock.

The Average True Range (ATR) for Applied Genetic Technologies Corporation is set at 0.34, with the Price to Sales ratio for AGTC stock in the period of the last 12 months amounting to 46.50. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 3.00.

How has AGTC stock performed recently?

Applied Genetic Technologies Corporation [AGTC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.36. With this latest performance, AGTC shares dropped by -17.84% in over the last four-week period, additionally sinking by -0.46% over the last 6 months – not to mention a rise of 54.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AGTC stock in for the last two-week period is set at 31.57, with the RSI for the last a single of trading hit 25.87, and the three-weeks RSI is set at 36.82 for Applied Genetic Technologies Corporation [AGTC]. The present Moving Average for the last 50 days of trading for this stock 5.20, while it was recorded at 4.91 for the last single week of trading, and 4.93 for the last 200 days.

Applied Genetic Technologies Corporation [AGTC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Applied Genetic Technologies Corporation [AGTC] shares currently have an operating margin of -1913.66. Applied Genetic Technologies Corporation’s Net Margin is presently recorded at -1870.85.

Return on Total Capital for AGTC is now -57.03, given the latest momentum, and Return on Invested Capital for the company is -56.13. Return on Equity for this stock declined to -61.30, with Return on Assets sitting at -47.67. When it comes to the capital structure of this company, Applied Genetic Technologies Corporation [AGTC] has a Total Debt to Total Equity ratio set at 20.97. Additionally, AGTC Total Debt to Total Capital is recorded at 17.33, with Total Debt to Total Assets ending up at 14.84. Long-Term Debt to Equity for the company is recorded at 19.41, with the Long-Term Debt to Total Capital now at 16.05.

Reflecting on the efficiency of the workforce at the company, Applied Genetic Technologies Corporation [AGTC] managed to generate an average of -$552,916 per employee. Receivables Turnover for the company is 377.38 with a Total Asset Turnover recorded at a value of 0.03.Applied Genetic Technologies Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.40 and a Current Ratio set at 6.40.

Earnings analysis for Applied Genetic Technologies Corporation [AGTC]

With the latest financial reports released by the company, Applied Genetic Technologies Corporation posted -0.47/share EPS, while the average EPS was predicted by analysts to be reported at -0.61/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 23.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AGTC.

Insider trade positions for Applied Genetic Technologies Corporation [AGTC]

There are presently around $66 million, or 76.20% of AGTC stock, in the hands of institutional investors. The top three institutional holders of AGTC stocks are: BLACKROCK INC. with ownership of 1,617,846, which is approximately 1.298% of the company’s market cap and around 0.30% of the total institutional ownership; INTERWEST VENTURE MANAGEMENT CO, holding 1,455,904 shares of the stock with an approximate value of $6.3 million in AGTC stocks shares; and PORTOLAN CAPITAL MANAGEMENT, LLC, currently with $5.63 million in AGTC stock with ownership of nearly 65.534% of the company’s market capitalization.

Positions in Applied Genetic Technologies Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 32 institutional holders increased their position in Applied Genetic Technologies Corporation [NASDAQ:AGTC] by around 1,700,335 shares. Additionally, 35 investors decreased positions by around 2,767,556 shares, while 14 investors held positions by with 10,876,772 shares. The mentioned changes placed institutional holdings at 15,344,663 shares, according to the latest SEC report filing. AGTC stock had 14 new institutional investments in for a total of 716,815 shares, while 8 institutional investors sold positions of 1,118,316 shares during the same period.

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