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 $3.6 Million after selling 1,118,936 shares in Applied Genetic Technologies Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Applied Genetic Technologies Corp makes up approximately 28.86% of Ridgeback Capital Investments’s portfolio.

Other Hedge Funds, Including , Connor Clark Lunn Investment Management Ltd. sold out all of its stake in AGTC during the most recent quarter. The investment firm sold 12,950 shares of AGTC which is valued $189,588.Blackrock Japan Ltd boosted its stake in AGTC in the latest quarter, The investment management firm added 652 additional shares and now holds a total of 1,083 shares of Applied Genetic Technologies Corp which is valued at $15,855. Oxford Asset Management added AGTC to its portfolio by purchasing 166,088 company shares during the most recent quarter which is valued at $2.4 Million. Applied Genetic Technologies Corp makes up approx 0.09% of Oxford Asset Management’s portfolio.Numeric Investors boosted its stake in AGTC in the latest quarter, The investment management firm added 467,610 additional shares and now holds a total of 694,299 shares of Applied Genetic Technologies Corp which is valued at $9.9 Million. Applied Genetic Technologies Corp makes up approx 0.11% of Numeric Investors’s portfolio.

Applied Genetic Technologies Corp closed down -0.01 points or -0.06% at $16.28 with 63,955 shares getting traded on Wednesday. Post opening the session at $16.45, the shares hit an intraday low of $16.19 and an intraday high of $16.84 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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