Applied Genetic Technologies (AGTC) Releases Earnings Results, Misses Estimates By $0.20 EPS
Applied Genetic Technologies (NASDAQ:AGTC) issued its earnings results on Friday. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.20), Morningstar.com reports. Applied Genetic Technologies had a negative return on equity of 2.86% and a negative net margin of 8.78%. The company had revenue of $4.85 million for the quarter, compared to the consensus estimate of $8.72 million. During the same quarter in the prior year, the company posted $0.10 EPS. Applied Genetic Technologies’s revenue was down 55.5% compared to the same quarter last year.
Shares of Applied Genetic Technologies (NASDAQ:AGTC) opened at $3.95 on Friday. Applied Genetic Technologies has a 12 month low of $3.25 and a 12 month high of $8.40.
A number of institutional investors have recently added to or reduced their stakes in AGTC. Nine Chapters Capital Management LLC purchased a new stake in Applied Genetic Technologies during the third quarter valued at $113,000. Citadel Advisors LLC raised its stake in Applied Genetic Technologies by 304.6% during the third quarter. Citadel Advisors LLC now owns 41,270 shares of the biotechnology company’s stock valued at $163,000 after purchasing an additional 31,070 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Applied Genetic Technologies during the second quarter valued at $178,000. ClariVest Asset Management LLC raised its stake in Applied Genetic Technologies by 18.5% during the third quarter. ClariVest Asset Management LLC now owns 99,013 shares of the biotechnology company’s stock valued at $391,000 after purchasing an additional 15,491 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Applied Genetic Technologies by 1,080.3% during the second quarter. Goldman Sachs Group Inc. now owns 143,606 shares of the biotechnology company’s stock valued at $732,000 after purchasing an additional 131,439 shares in the last quarter. 46.59% of the stock is currently owned by institutional investors.
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About Applied Genetic Technologies
Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. The Company develops gene therapy products designed to manage the lives of patients with severe diseases in ophthalmology. As of March 31, 2016, its product candidates included treatments for X-linked retinoschisis (XLRS), over two forms of achromatopsia (ACHM) and X-linked retinitis pigmentosa (XLRP).
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