Applied Genetic Technologies Corporation [AGTC] moved down -53.99: Why It’s Important


Applied Genetic Technologies Corporation [NASDAQ: AGTC] stock went on a downward path that fall over -53.99% on Wednesday, amounting to a one-week price decrease of less than -51.94%. The company report on July 12, 2022 that AGTC Announces Pricing of $10 Million Underwritten Public Offering.

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Applied Genetic Technologies Corporation (“AGTC” or the “Company”) (Nasdaq: AGTC), a clinical-stage biotechnology company focused on the development and commercialization of adeno-associated virus (AAV)-based gene therapies for the treatment of rare and debilitating diseases with an initial focus on inherited retinal diseases (IRDs), today announced the pricing of its previously announced underwritten public offering of 16,666,667 shares of its common stock (or common stock equivalents) and accompanying warrants to purchase up to 16,666,667 shares of common stock at a combined public offering price of $0.60 per share of common stock and accompanying warrant, less underwriting discounts and commissions. The warrants have an exercise price of $0.60 per share, are exercisable immediately, and will expire five years following the date of issuance. The offering is expected to close on or about July 15, 2022, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as sole book-running manager for the proposed public offering.

Over the last 12 months, AGTC stock dropped by -89.57%. The one-year Applied Genetic Technologies Corporation stock forecast points to a potential upside of 96.31. The average equity rating for AGTC stock is currently 1.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $19.10 million, with 50.73 million shares outstanding and 50.42 million shares in the current float. Compared to the average trading volume of 414.70K shares, AGTC stock reached a trading volume of 11850699 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Applied Genetic Technologies Corporation [AGTC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AGTC shares is $10.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AGTC stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for Applied Genetic Technologies Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 15, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on March 02, 2021, representing the official price target for Applied Genetic Technologies Corporation stock. Previously, the target price had yet another raise from $18 to $24, while H.C. Wainwright kept a Buy rating on AGTC stock.

The Average True Range (ATR) for Applied Genetic Technologies Corporation is set at 0.09, with the Price to Sales ratio for AGTC stock in the period of the last 12 months amounting to 38.19. The Price to Book ratio for the last quarter was 0.36, with the Price to Cash per share for the same quarter was set at 1.38.

AGTC Stock Performance Analysis:

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 -51.94. With this latest performance, AGTC shares dropped by -58.06% in over the last four-week period, additionally sinking by -77.59% over the last 6 months – not to mention a drop of -89.57% 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 25.01, with the RSI for the last a single of trading hit 19.13, and the three-weeks RSI is set at 29.07 for Applied Genetic Technologies Corporation [AGTC]. The present Moving Average for the last 50 days of trading for this stock 0.8200, while it was recorded at 0.7677 for the last single week of trading, and 1.6997 for the last 200 days.

Insight into Applied Genetic Technologies Corporation 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 -11690.20. Applied Genetic Technologies Corporation’s Net Margin is presently recorded at -11565.80.

Return on Total Capital for AGTC is now -59.58, given the latest momentum, and Return on Invested Capital for the company is -60.32. Return on Equity for this stock declined to -73.75, with Return on Assets sitting at -50.89. 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 28.53. Additionally, AGTC Total Debt to Total Capital is recorded at 22.20, with Total Debt to Total Assets ending up at 19.28. Long-Term Debt to Equity for the company is recorded at 24.64, with the Long-Term Debt to Total Capital now at 19.17.

Reflecting on the efficiency of the workforce at the company, Applied Genetic Technologies Corporation [AGTC] managed to generate an average of -$696,735 per employee.Applied Genetic Technologies Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.70.

Applied Genetic Technologies Corporation [AGTC] Insider Position Details

There are presently around $13 million, or 34.60% of AGTC stock, in the hands of institutional investors. The top three institutional holders of AGTC stocks are: CANTOR FITZGERALD, L. P. with ownership of 2,359,199, which is approximately New of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 1,981,565 shares of the stock with an approximate value of $1.68 million in AGTC stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $1.4 million in AGTC stock with ownership of nearly 7.511% of the company’s market capitalization.

Positions in Applied Genetic Technologies Corporation stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 25 institutional holders increased their position in Applied Genetic Technologies Corporation [NASDAQ:AGTC] by around 4,653,340 shares. Additionally, 25 investors decreased positions by around 1,356,431 shares, while 15 investors held positions by with 9,092,044 shares. The mentioned changes placed institutional holdings at 15,101,815 shares, according to the latest SEC report filing. AGTC stock had 10 new institutional investments in for a total of 3,795,587 shares, while 11 institutional investors sold positions of 558,421 shares during the same period.