Applied Genetic Technologies Corporation (NASDAQ: AGTC) stock fell -3.91% on Wednesday to $0.29 against a previous-day closing price of $0.30. With 1.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.3 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.3097 whereas the lowest price it dropped to was $0.2713. The 52-week range on AGTC shows that it touched its highest point at $3.30 and its lowest point at $0.28 during that stretch. It currently has a 1-year price target of $10.00. Beta for the stock currently stands at 1.34.
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 down-trending over the past week, with a drop of -12.12%, but this was down by -32.29% over a month. Three-month performance dropped to -61.89% while six-month performance fell -74.11%. The stock lost -90.71% in the past year, while it has lost -84.74% 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, 50.73 million AGTC shares are outstanding with a float of 50.08 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.
Through their ownership of 34.14% of AGTC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.00% of AGTC, in contrast to 6.21% held by mutual funds. Shares owned by individuals account for 14.61%. As the largest shareholder in AGTC with 2.95% of the stake, The Vanguard Group, Inc. holds 1,967,596 shares worth 1,967,596. A second-largest stockholder of AGTC, Portolan Capital Management LLC, holds 1,605,599 shares, controlling over 2.40% of the firm’s shares. Millennium Management LLC is the third largest shareholder in AGTC, holding 1,499,124 shares or 2.24% stake. With a 1.82% stake in AGTC, the Fidelity Strategic Advisers Small is the largest stakeholder. A total of 1,216,061 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.20% of AGTC stock, is the second-largest Mutual Fund holder. It holds 803,820 shares valued at 0.32 million. Vanguard Extended Market Index Fu holds 0.90% of the stake in AGTC, owning 603,829 shares worth 0.24 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AGTC since 5 analysts follow the stock currently. There are 5 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 $11.00. Based on these targets, AGTC could surge 8175.86% to reach the target high and rise by 589.66% to reach the target low. Reaching the average price target will result in a growth of 3693.1% 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 -$1.49 being high and -$1.57 being low. For AGTC, this leads to a yearly average estimate of -$1.53. 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 -$0.32 and the low estimate is -$0.39. The average estimate for the next quarter is thus -$0.36.
Summary of Insider Activity:
Insiders traded AGTC stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 30,000 shares were bought while 8,070 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 154,563 while 22,014 shares were sold.