Applied DNA Sciences Inc. [NASDAQ: APDN] stock went on a downward path that fall over -4.63% on Thursday, amounting to a one-week price decrease of less than -10.43%. The company report on March 29, 2023 that Applied DNA Achieves Milestone for Large-Scale linearDNA™ Production, Delivers Largest Single Shipment by Volume to Date.
Applied DNA Sciences, Inc. (NASDAQ: APDN) (the “Company”), a leader in PCR-based DNA technologies, today announced that it has established a new high bar for the production of DNA with the manufacture and shipment of a multi-gram quantity of linearDNA™ in under six weeks. The quantity was produced by the Company’s LinearDNA™ platform under a large recurring purchase order with a global manufacturer of in vitro diagnostics that was announced in the first quarter of fiscal 2023 and is the largest single shipment of linearDNA to date. The Company expects to ship a final multi-gram quantity in the third fiscal quarter of 2023 to fulfill the purchase order earlier than contractually stipulated.
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“We believe that this production milestone underscores our LinearDNA platform’s capacity for the rapid, enzymatic production of DNA at very large scale that stands in stark contrast to the scalability bottlenecks and challenges associated with conventional plasmid DNA to support both high value biotherapeutic and lower price-point diagnostic applications,” stated Dr. James A. Hayward, president and CEO of Applied DNA Sciences. “Building on our platform’s inherent advantages of speed and scale, we are concurrently pursuing platform optimizations and a timeline to cGMP (current Good Manufacturing Practices) that we believe will enhance linearDNA’s standing as an alternative source of DNA. The future of our LinearDNA platform will have it supplying the needs of the entire DNA demand curve, from GLP-grade (Good Laboratory Practices) product for in vitro diagnostics and biotherapeutic research and development to cGMP-grade, therapeutic DNA as a direct replacement for plasmid DNA-reliant nucleic acid-based therapies.”.
Over the last 12 months, APDN stock dropped by -50.00%. The one-year Applied DNA Sciences Inc. stock forecast points to a potential upside of 74.25. The average equity rating for APDN stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $13.49 million, with 12.91 million shares outstanding and 12.71 million shares in the current float. Compared to the average trading volume of 100.06K shares, APDN stock reached a trading volume of 73484 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $4.00 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 0.07, with the Price to Sales ratio for APDN stock in the period of the last 12 months amounting to 0.70. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 0.98.
APDN Stock Performance Analysis:
Applied DNA Sciences Inc. [APDN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.43. With this latest performance, APDN shares dropped by -17.60% in over the last four-week period, additionally sinking by -28.97% over the last 6 months – not to mention a drop of -50.00% 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 35.01, with the RSI for the last a single of trading hit 32.74, and the three-weeks RSI is set at 37.00 for Applied DNA Sciences Inc. [APDN]. The present Moving Average for the last 50 days of trading for this stock 1.3447, while it was recorded at 1.0890 for the last single week of trading, and 1.7316 for the last 200 days.
Insight into Applied DNA Sciences Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Applied DNA Sciences Inc. [APDN] shares currently have an operating margin of -76.89 and a Gross Margin at +20.71. Applied DNA Sciences Inc.’s Net Margin is presently recorded at -45.51.
Return on Total Capital for APDN is now -116.31, given the latest momentum, and Return on Invested Capital for the company is -68.83. Return on Equity for this stock declined to -68.83, with Return on Assets sitting at -45.08.
Reflecting on the efficiency of the workforce at the company, Applied DNA Sciences Inc. [APDN] managed to generate an average of -$119,825 per employee. Receivables Turnover for the company is 6.19 with a Total Asset Turnover recorded at a value of 0.99.Applied DNA Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 5.50.
Applied DNA Sciences Inc. [APDN] Insider Position Details
There are presently around $2 million, or 14.30% of APDN stock, in the hands of institutional investors. The top three institutional holders of APDN stocks are: AWM INVESTMENT COMPANY, INC. with ownership of 720,942, which is approximately 80.236% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 506,450 shares of the stock with an approximate value of $0.55 million in APDN stocks shares; and SABBY MANAGEMENT, LLC, currently with $0.16 million in APDN stock with ownership of nearly 14.642% of the company’s market capitalization.
Positions in Applied DNA Sciences Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 12 institutional holders increased their position in Applied DNA Sciences Inc. [NASDAQ:APDN] by around 665,431 shares. Additionally, 13 investors decreased positions by around 489,271 shares, while 8 investors held positions by with 850,343 shares. The mentioned changes placed institutional holdings at 2,005,045 shares, according to the latest SEC report filing. APDN stock had 5 new institutional investments in for a total of 122,483 shares, while 7 institutional investors sold positions of 325,515 shares during the same period.