Applied DNA Sciences Inc. [APDN] Stock trading around $4.11 per share: What’s Next?

Applied DNA Sciences Inc. [NASDAQ: APDN] gained 14.17% or 0.51 points to close at $4.11 with a heavy trading volume of 18822260 shares. The company report on August 19, 2022 that Applied DNA Submits PCR-based Monkeypox Virus Diagnostic Test for Approval to New York State Department of Health.

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– Submitted by Clinical Lab Subsidiary for its Use; Subsidiary to Manufacture the Diagnostic Kit if Approved -.

Applied DNA Sciences, Inc. (NASDAQ: APDN) (“Applied DNA” or the “Company”), a leader in PCR-based DNA technologies, announced today that its wholly-owned clinical laboratory subsidiary, Applied DNA Clinical Labs, LLC (“ADCL”), has submitted to the New York State Department of Health (NYSDOH) a validation package for its Company-developed monkeypox virus test in support of a request for full approval as a form of NYSDOH Laboratory Developed Test (LDT). The PCR-based diagnostic is designed to identify the genetic signature of the Clade II variant of the monkeypox virus that is currently prevalent in the U.S. If approved by NYSDOH, the test will be used to power ADCL’s monkeypox testing services.

It opened the trading session at $3.35, the shares rose to $4.63 and dropped to $3.2811, the range by which the price of stock traded the whole day. The daily chart for APDN points out that the company has recorded 43.71% gains over the past six months. However, it is still -562.9% lower than its most recent low trading price.

If we look at the average trading volume of 6.92M shares, APDN reached to a volume of 18822260 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Applied DNA Sciences Inc. [APDN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APDN shares is $7.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APDN stock is a recommendation set at 2.00. 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.

ROTH Capital have made an estimate for Applied DNA Sciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 12, 2021. While these analysts kept the previous recommendation, H.C. Wainwright dropped their target price from $18 to $14. The new note on the price target was released on January 14, 2021, representing the official price target for Applied DNA Sciences Inc. stock. Previously, the target price had yet another drop from $20 to $12, while H.C. Wainwright kept a Buy rating on APDN stock. On July 20, 2020, analysts increased their price target for APDN shares from 18 to 22.

The Average True Range (ATR) for Applied DNA Sciences Inc. is set at 0.84, with the Price to Sales ratio for APDN stock in the period of the last 12 months amounting to 2.64. The Price to Book ratio for the last quarter was 5.41, with the Price to Cash per share for the same quarter was set at 0.42.

Trading performance analysis for APDN stock

Applied DNA Sciences Inc. [APDN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.08. With this latest performance, APDN shares gained by 495.65% in over the last four-week period, additionally plugging by 43.71% over the last 6 months – not to mention a drop of -26.61% 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 APDN stock in for the last two-week period is set at 62.67, with the RSI for the last a single of trading hit 60.89, and the three-weeks RSI is set at 63.38 for Applied DNA Sciences Inc. [APDN]. The present Moving Average for the last 50 days of trading for this stock 1.79, while it was recorded at 3.64 for the last single week of trading, and 2.78 for the last 200 days.

Applied DNA Sciences Inc. [APDN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Applied DNA Sciences Inc. [APDN] shares currently have an operating margin of -136.16 and a Gross Margin at +45.24. Applied DNA Sciences Inc.’s Net Margin is presently recorded at -158.25.

Return on Equity for this stock declined to -169.75, with Return on Assets sitting at -110.93.

Applied DNA Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.20.

An analysis of insider ownership at Applied DNA Sciences Inc. [APDN]

There are presently around $5 million, or 8.20% of APDN stock, in the hands of institutional investors. The top three institutional holders of APDN stocks are: ARMISTICE CAPITAL, LLC with ownership of 400,000, which is approximately -13% of the company’s market cap and around 1.97% of the total institutional ownership; VANGUARD GROUP INC, holding 211,050 shares of the stock with an approximate value of $0.87 million in APDN stocks shares; and CAPITAL WEALTH ALLIANCE, LLC, currently with $0.8 million in APDN stock with ownership of nearly New of the company’s market capitalization.

Positions in Applied DNA Sciences Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 10 institutional holders increased their position in Applied DNA Sciences Inc. [NASDAQ:APDN] by around 333,626 shares. Additionally, 11 investors decreased positions by around 117,800 shares, while 6 investors held positions by with 787,265 shares. The mentioned changes placed institutional holdings at 1,238,691 shares, according to the latest SEC report filing. APDN stock had 7 new institutional investments in for a total of 313,107 shares, while 3 institutional investors sold positions of 23,129 shares during the same period.


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