The trading price of Applied Genetic Technologies Corporation (NASDAQ:AGTC) closed lower on Monday, Feb 22, closing at $7.03, -11.24% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $6.20 and $6.90. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 2.52. In examining the 52-week price action we see that the stock hit a 52-week high of $9.67 and a 52-week low of $2.29. Over the past month, the stock has gained 33.33% in value.
Applied Genetic Technologies Corporation, whose market valuation is $276.74 Million at the time of this writing, is expected to release its quarterly earnings report in Apr 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.44 per share this quarter, however they have predicted annual earnings per share of -$1.99 for 2021 and -$1.8 for 2022. It means analysts are expecting annual earnings per share growth of -0.08% this year and -0.1% next year.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Applied Genetic Technologies Corporation 2 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest AGTC has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned AGTC a recommendation rating is 7. Out of them, no one rate it a Hold, while 7 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Applied Genetic Technologies Corporation (AGTC) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that AGTC’s price is currently 16.86% off the SMA20 and 28.9% off the SMA50. The RSI metric on the 14-day chart is currently showing 56.33, and weekly volatility stands at 23.58%. When measured over the past 30 days, the indicator reaches 13.54%. Applied Genetic Technologies Corporation (NASDAQ:AGTC)’s beta value is currently sitting at 2.52, while the Average True Range indicator is currently displaying 0.81. With analysts defining $9-$35 as the low and high price targets, we arrive at a consensus price target of $16.71 for the trailing 12-month period. The current price is about 44.23% off the estimated low and 460.9% off the forecast high, based on this estimate. Investors will be thrilled if AGTC’s share price rises to $12, which is the median consensus price. At that level, AGTC’s share price would be +92.31% above current price.
To see how Applied Genetic Technologies Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: AGTC stock’s performance was -11.24% in the latest trading, and +16.64% in the past year, while Bristol-Myers Squibb Company (BMY) has traded +0.64% on the day and positioned -7.07% lower than it was a year ago. Another comparable company Amgen Inc (AMGN) saw its stock close -0.09% lower in the most recent trading session but was up +3.9% in a year. Furthermore, Gilead Sciences Inc (GILD) showed a decline of -11.24% on the day while its price kept rising at 16.64% over the past year. Applied Genetic Technologies Corporation has a P/E ratio of 0, compared to Bristol-Myers Squibb Company’s 0 and Amgen Inc’s 18.8. Also in last trading session, the S&P 500 Index has soared -0.77%, while the Dow Jones Industrial also saw a positive session, up +0.09% on the day.
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An evaluation of the daily trading volume of Applied Genetic Technologies Corporation (NASDAQ:AGTC) indicates that the 3-month average is 2.39 Million. However, this figure has declined over the past 10 days to an average of 13.23 Million.
Currently, records show that 42.66 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 1.02% of outstanding shares, whereas institutions hold 68.32%. The stats also highlight that short interest as of January 28, 2021, stood at 1.31 Million shares, resulting in a short ratio of 3.01 at that time. From this, we can conclude that short interest is 5.08% of the company’s total outstanding shares. It is noteworthy that short shares in January were up slightly from the previous month’s figure, which was 1.07 Million. However, since the stock’s price has seen +52.57% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.