Applied Genetic Technologies (NASDAQ:AGTC) posted its quarterly earnings results on Thursday. The biotechnology company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.57, MarketWatch Earnings reports. Applied Genetic Technologies had a negative return on equity of 19.77% and a negative net margin of 88.06%. The firm had revenue of $14.03 million during the quarter, compared to analysts’ expectations of $2.90 million.
Shares of AGTC stock traded down $0.31 during mid-day trading on Friday, hitting $6.70. The company’s stock had a trading volume of 146,592 shares, compared to its average volume of 95,308. Applied Genetic Technologies has a 52-week low of $3.45 and a 52-week high of $7.50. The stock has a market capitalization of $123.29 million, a P/E ratio of -5.68 and a beta of 2.03.
Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its holdings in shares of Applied Genetic Technologies by 18.9% in the second quarter. Point72 Asset Management L.P. now owns 214,000 shares of the biotechnology company’s stock worth $792,000 after acquiring an additional 34,000 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Applied Genetic Technologies by 28.5% in the second quarter. Renaissance Technologies LLC now owns 634,500 shares of the biotechnology company’s stock worth $2,348,000 after acquiring an additional 140,700 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Applied Genetic Technologies by 15.7% in the second quarter. Dimensional Fund Advisors LP now owns 731,898 shares of the biotechnology company’s stock worth $2,708,000 after acquiring an additional 99,358 shares during the period. Marquette Asset Management LLC bought a new stake in shares of Applied Genetic Technologies in the second quarter worth $129,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Applied Genetic Technologies in the second quarter worth $2,538,000. 48.42% of the stock is owned by institutional investors.
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About Applied Genetic Technologies
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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