Applied Molecular Transport (NASDAQ:AMTI) Trading Down 8.2%

Applied Molecular Transport Inc. (NASDAQ:AMTI) dropped 8.2% during trading on Tuesday . The company traded as low as $59.01 and last traded at $59.06. Approximately 2,080 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 189,745 shares. The stock had previously closed at $64.31.

AMTI has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of Applied Molecular Transport from $38.00 to $75.00 in a research note on Tuesday, March 23rd. Zacks Investment Research lowered shares of Applied Molecular Transport from a “hold” rating to a “sell” rating in a research note on Wednesday, February 24th. JMP Securities initiated coverage on shares of Applied Molecular Transport in a research note on Tuesday, March 23rd. They issued an “outperform” rating and a $92.00 price objective on the stock. Finally, SVB Leerink lifted their price objective on shares of Applied Molecular Transport from $32.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Applied Molecular Transport presently has a consensus rating of “Buy” and an average price target of $68.75.

The business’s 50 day moving average price is $59.19 and its 200-day moving average price is $39.99.

Applied Molecular Transport (NASDAQ:AMTI) last issued its earnings results on Thursday, March 18th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.10. Research analysts expect that Applied Molecular Transport Inc. will post -3 EPS for the current fiscal year.

In related news, Director David Lamond bought 25,000 shares of the stock in a transaction on Tuesday, April 6th. The shares were bought at an average cost of $42.00 per share, for a total transaction of $1,050,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Several hedge funds and other institutional investors have recently made changes to their positions in AMTI. Strs Ohio purchased a new stake in shares of Applied Molecular Transport in the third quarter valued at about $98,000. Citigroup Inc. lifted its holdings in shares of Applied Molecular Transport by 511.2% in the fourth quarter. Citigroup Inc. now owns 3,643 shares of the company’s stock valued at $112,000 after purchasing an additional 3,047 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Applied Molecular Transport in the third quarter valued at about $143,000. Morgan Stanley purchased a new stake in shares of Applied Molecular Transport in the third quarter valued at about $154,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Applied Molecular Transport in the third quarter valued at about $212,000. 51.99% of the stock is currently owned by institutional investors.

About Applied Molecular Transport (NASDAQ:AMTI)

Applied Molecular Transport Inc, a clinical-stage biopharmaceutical company, engages in the development of a pipeline of oral biologic product candidates to treat autoimmune, inflammatory, metabolic, and other diseases. The company's lead product candidate is AMT-101, a gastrointestinal (GI) selective oral fusion of rhIL-10 that is in Phase II clinical trial for the treatment of ulcerative colitis and related inflammatory indications.

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