Applied Genetics Technologies Corporation (AGTC) is a clinical stage biotechnology company from America that is traded publicly on NASDAQ Biotechnology Index. AGTC focuses on genetic diseases that affect the eyes such achromatopsia, X-linked retinis pigmentosa and age related degeneration. They are focused on developing and commercializing adeno-associated virus(AAV) gene therapies. Applied Genetic Technologies Corporation was founded in 1999. AGTC stock price started from $12.50 in 2014 when it was first opened to public sale and within the first two quarters AGTC stock price rose to $30.
However, in the upcoming years, from 2015 to 2019 AGTC stock price sank as low as $2.26. The AGTC stock price then saw a rise in the beginning of 2020, rising up to $8 again but then continued trending down into it’s current value of $0.35 which is the AGTC stock price today. AGTC announced a new public offering 5 days ago, the revenue from which will be used advancing their Skyline and Vista clinical trials.
Is AGTC a Good Stock to Buy?
AGTC stock price today is around $0.35 and AGTC stock prices have been trending down for the last 2 weeks, losing %54 value in the last two weeks according to AGTC stock news. AGTC is an important company that makes valuable developments to medicine and biotechnology, however, because of it’s long period of trending down, AGTC stock prices may be expected to fall even further and according to AGTC stock price forecasts buying it may not be a good idea.
According to AGTC stock price predictions it is expected to see a further loss of value but if it rises the $0.42 level again, AGTC stock prices may gain value instead, making $0.42 an AGTC stock target price, but AGTC stock price forecasts are still giving sell signals. Even more so, AGTC stock forecasts indicate an even stronger fall rate. However, AGTC stock prices may still rise again.
Where is AGTC Located?
Applied Genetic Technologies Corporation is an important company that does work on genetically transferred eye diseases by applying AAV gene therapies, developing treatments and advancing the biotechnology area. They are located in Alachua, Florida, United States, and they are also on the NASDAQ Biotechnology index. However, even though they do important work, the AGTC stock prices have been trending down for a very long time, and AGTC stock price forecasts are predicting an even bigger fall in value.
Why is AGTC Stock Dropping?
AGTC is a very important company but for the last couple of years AGTC stock news have been showing a downwards trend. There are multiple reasons for this devaluation of AGTC stock prices. Firstly, one of their development programs, ACHM, has hit some obstacles during clinical trial, causing severe side effects, therefore the program no longer stands to bring profit to the company, and the sunk cost of the investments in ACHM program explains the loss of value in the AGTC stock prices today.
Another reason why AGTC stock prices may have lost value is that they recently made a public offering by HC Wainwright and experts say that the pricing for this public offering was lower than its value. However, expert analysts and AGTC stock news say that their XLRP program is giving good results so far and if it bears fruit by the end of the year, the AGTC stock prices may go up dramatically. Therefore, while it is a risky investment, AGTC stocks may yet prove worthy of buying. If this happens, analysts predict the AGTC stock target as $5 per share.
Will AGTC Go Up?
AGTC has been losing value since the last few years and Wall Street right now is less inclined to invest in biotechnology companies due to recent developments. The downwards trend has been going on for a long time and some analysts predict an even steeper fall in the value of AGTC stock prices.
This is due to one of their two clinical projects hitting an obstacle in its development, causing possible sunk cost, and also because they recently made a public offering below the value of the shares of AGTC stocks. However, some analysts claim that if the other clinical project gives good results by the end of 2022, AGTC stock prices may skyrocket up to the target price of $5.
What is the AGTC Price Target?
Experts have some conflicting opinions about which direction the AGTC stock prices will go to. Some expert analysts report that the downward trend is not only going to continue, but is going to get even stronger, and they are giving recommendations to sell. However, if it instead hits the price target of $0.42 and continues to rise, it may go way higher than it’s average for the last quarter. If their clinical projects give positive results by the end of the year, the AGTC stock target may go up to $5.
Is Applied Genetics Technologies Stock a Buy?
According to some experts, it might not be a good idea to buy AGTC stocks right now, because it’s downward trend in value may continue and there are currently no positive signs in the charts in the analysis and AGTC stock price forecasts. However, if their clinical trial for their XLRP project succeeds by the end of 2022, some analysts say that the prices may show a very strong upwards trend and can go up to $5, around 15 times the AGTC stock price today. So AGTC may be a good stock to buy, but it is definitely very risky and should only be done with extensive research.
AGTC Stock Forecast 2022, 2023, 2024, 2025, 2030
AGTC stock forecast 2022 shows that this stock may either fall to even lower value, target unspecified, or by the end of the year, in the AGTC stock forecast 2023, rise with a very strong upward trend. One analyst says that in the AGTC stock forecast 2024 and AGTC stock forecast 2025, the revenue of AGTC stocks will rise by %222 and therefore the price target will go high as well. This of course will not be the situation if AGTC stocks go the other direct and trend downwards. There is not much information available for AGTC stock forecast 2030, but the yearly period ahead seems like it will provide more information for future AGTC stock forecasts.