A Look at Applied Genetic Technologies Corporation (AGTC) Shares in the Recent Past Indicates Growth

Applied Genetic Technologies Corporation (NASDAQ: AGTC) stock jumped 1.24% on Friday to $0.39 against a previous-day closing price of $0.39. With 1.94 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.0 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.4090 whereas the lowest price it dropped to was $0.3824. The 52-week range on AGTC shows that it touched its highest point at $3.82 and its lowest point at $0.35 during that stretch. It currently has a 1-year price target of $10.00. Beta for the stock currently stands at 1.38.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AGTC was up-trending over the past week, with a rise of 6.07%, but this was down by -51.74% over a month. Three-month performance dropped to -57.01% while six-month performance fell -80.52%. The stock lost -89.00% in the past year, while it has lost -79.39% so far this year. A look at the trailing 12-month EPS for AGTC yields -1.46 with Next year EPS estimates of -1.13. For the next quarter, that number is -0.34. This implies an EPS growth rate of 18.80% for this year and 24.70% for next year.

Float and Shares Shorts:

At present, 66.81 million AGTC shares are outstanding with a float of 50.50 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.99 million, which was 2.98% higher than short shares on Jun 14, 2022. In addition to Ms. Susan B. Washer as the firm’s Pres, CEO & Director, Mr. Stephen W. Potter serves as its VP & Chief Bus. Officer.

Institutional Ownership:

Through their ownership of 34.13% of AGTC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.24% of AGTC, in contrast to 19.18% held by mutual funds. Shares owned by individuals account for 18.07%. As the largest shareholder in AGTC with 4.65% of the stake, Cantor Fitzgerald & Co. holds 2,359,199 shares worth 2,359,199. A second-largest stockholder of AGTC, The Vanguard Group, Inc., holds 1,967,596 shares, controlling over 3.88% of the firm’s shares. Millennium Management LLC is the third largest shareholder in AGTC, holding 1,648,354 shares or 3.25% stake. With a 2.64% stake in AGTC, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,340,980 shares are owned by the mutual fund manager. The Fidelity Strategic Advisers Small, which owns about 2.40% of AGTC stock, is the second-largest Mutual Fund holder. It holds 1,216,061 shares valued at 0.94 million. Vanguard Extended Market Index Fu holds 1.10% of the stake in AGTC, owning 556,629 shares worth 0.43 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, AGTC reported revenue of $0.00 and operating income of -$13.58M. Over the past year, revenue came in at $500.00k while operating income stood at -$62.24M. It generated -$14.29M net income for the quarter, which came to -$62.69M over the last twelve months. The EBITDA in the recently reported quarter was -$13.20M and diluted EPS was -$0.33. EBITDA for the full year was -$60.77M.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AGTC since 7 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AGTC analysts setting a high price target of $24.00 and a low target of $2.00, the average target price over the next 12 months is $10.00. Based on these targets, AGTC could surge 6053.85% to reach the target high and rise by 412.82% to reach the target low. Reaching the average price target will result in a growth of 2464.1% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AGTC will report FY 2022 earnings on 09/22/2023. Analysts have provided yearly estimates in a range of -$1.31 being high and -$1.57 being low. For AGTC, this leads to a yearly average estimate of -$1.50. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Applied Genetic Technologies Corporation surprised analysts by $0.08 when it reported -$0.33 EPS against a consensus estimate of -$0.41. The surprise factor in the prior quarter was -$0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.20 and the low estimate is -$0.39. The average estimate for the next quarter is thus -$0.34.

Summary of Insider Activity:

Insiders traded AGTC stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 12,064 shares were sold. The number of buy transactions has increased to 2 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 124,563 while 27,738 shares were sold.

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