Connor Clark & Lunn Investment Management Ltd. Reduces Position in Applied Genetic Technologies Corp (AGTC)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Applied Genetic Technologies Corp (NASDAQ:AGTC) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,925 shares of the biotechnology company’s stock after selling 8,050 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.29% of Applied Genetic Technologies worth $132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Applied Genetic Technologies by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 817,584 shares of the biotechnology company’s stock worth $5,968,000 after purchasing an additional 85,686 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Applied Genetic Technologies by 11.5% during the third quarter. Renaissance Technologies LLC now owns 707,500 shares of the biotechnology company’s stock worth $5,165,000 after buying an additional 73,000 shares during the period. Vanguard Group Inc increased its stake in shares of Applied Genetic Technologies by 1.1% during the third quarter. Vanguard Group Inc now owns 494,618 shares of the biotechnology company’s stock worth $3,611,000 after buying an additional 5,300 shares during the period. Wells Fargo & Company MN increased its stake in shares of Applied Genetic Technologies by 9,001.3% during the third quarter. Wells Fargo & Company MN now owns 215,610 shares of the biotechnology company’s stock worth $1,574,000 after buying an additional 213,241 shares during the period. Finally, Alambic Investment Management L.P. increased its stake in shares of Applied Genetic Technologies by 96.0% during the fourth quarter. Alambic Investment Management L.P. now owns 47,600 shares of the biotechnology company’s stock worth $119,000 after buying an additional 23,309 shares during the period. 43.04% of the stock is currently owned by institutional investors.

Several equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $5.75 price target on shares of Applied Genetic Technologies in a research note on Friday, February 8th. Zacks Investment Research downgraded Applied Genetic Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. TheStreet downgraded Applied Genetic Technologies from a “c-” rating to a “d+” rating in a report on Wednesday, January 2nd. Finally, ValuEngine raised Applied Genetic Technologies from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $6.95.

Applied Genetic Technologies stock traded up $0.12 during midday trading on Monday, reaching $4.77. The company’s stock had a trading volume of 56,953 shares, compared to its average volume of 86,657. The company has a market cap of $86.67 million, a P/E ratio of -4.04 and a beta of 2.86. Applied Genetic Technologies Corp has a fifty-two week low of $2.26 and a fifty-two week high of $7.50.

Applied Genetic Technologies (NASDAQ:AGTC) last posted its quarterly earnings data on Thursday, February 7th. The biotechnology company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.41. The firm had revenue of $5.93 million during the quarter. Applied Genetic Technologies had a negative return on equity of 19.73% and a negative net margin of 61.04%. On average, equities analysts anticipate that Applied Genetic Technologies Corp will post -1.25 EPS for the current fiscal year.

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Applied Genetic Technologies Company Profile

Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. The company's lead products consist of four ophthalmology development programs across three targets, including X-linked retinoschisis that is in Phase I/II clinical trials; X-linked retinitis pigmentosa, which is in Phase I/II clinical trials; and achromatopsia that is in Phase I/II clinical trials for the treatment of inherited retinal diseases, as well as a preclinical program in adrenoleukodystrophy, which is a disease of the central nervous system and otology.

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Institutional Ownership by Quarter for Applied Genetic Technologies (NASDAQ:AGTC)

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