Ridgeback Capital Investments Lowers stake in Applied Genetic Technologies Corp (AGTC)

Applied Genetic Technologies Corp (AGTC) : Ridgeback Capital Investments reduced its stake in Applied Genetic Technologies Corp by 81.98% during the most recent quarter end. The investment management company now holds a total of 246,005 shares of Applied Genetic Technologies Corp which is valued at $3,788,477 after selling 1,118,936 shares in Applied Genetic Technologies Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Applied Genetic Technologies Corp makes up approximately 27.66% of Ridgeback Capital Investments’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in AGTC in the latest quarter, The investment management firm added 10,182 additional shares and now holds a total of 120,549 shares of Applied Genetic Technologies Corp which is valued at $1,856,455.Blackrock Investment Management boosted its stake in AGTC in the latest quarter, The investment management firm added 18,034 additional shares and now holds a total of 48,754 shares of Applied Genetic Technologies Corp which is valued at $750,812.Blackrock Institutional Trust Company N.a. boosted its stake in AGTC in the latest quarter, The investment management firm added 45,596 additional shares and now holds a total of 207,924 shares of Applied Genetic Technologies Corp which is valued at $3,202,030. Dekabank Deutsche Girozentrale sold out all of its stake in AGTC during the most recent quarter. The investment firm sold 8,200 shares of AGTC which is valued $128,166.American Century Companies Inc boosted its stake in AGTC in the latest quarter, The investment management firm added 52,155 additional shares and now holds a total of 137,620 shares of Applied Genetic Technologies Corp which is valued at $2,142,743.

Applied Genetic Technologies Corp opened for trading at $13.25 and hit $13.34 on the upside on Monday, eventually ending the session at $13.27, with a gain of 0.38% or 0.05 points. The heightened volatility saw the trading volume jump to 1,19,071 shares. Company has a market cap of $239 M.

On the company’s financial health, Applied Genetic Technologies Corp reported $0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.27 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $0.38. The company had revenue of $12.00 million for the quarter, compared to analysts expectations of $13.18 million. The company’s revenue was up 4125.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.38 EPS.

Applied Genetic Technologies Corp is a United States-based clinical stage biotechnology company. The Company develops gene therapy products for the treatment of inherited and acquired diseases. Its products are used to treat Alpha One Antitrypsin Deficiency (Alpha-1) a respiratory disease caused by deficiencies in the tissue protective protein alpha one antitrypsin; and Lebers congenital amaurosis an inherited condition causing early blindness. Its products also used to treat X-linked retinoschisis an inherited form of retinal degeneration affecting young males with poor vision either in infancy or at school age; and achromatopsia an inherited condition that is associated with color blindness visual acuity loss and extreme light sensitivity resulting in daytime blindness.

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