StockNews.com Begins Coverage on Applied DNA Sciences (NASDAQ:APDN)

Posted by on Jun 14th, 2023

Analysts at StockNews.com began coverage on shares of Applied DNA Sciences (NASDAQ:APDN – Get Rating) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the technology company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Applied DNA Sciences in a research report on Thursday, March 30th.

Applied DNA Sciences Stock Up 1.1 %

APDN opened at $1.32 on Wednesday. Applied DNA Sciences has a 52-week low of $0.62 and a 52-week high of $7.35. The firm’s fifty day simple moving average is $1.12 and its two-hundred day simple moving average is $1.31.

Applied DNA Sciences (NASDAQ:APDN – Get Rating) last posted its quarterly earnings results on Thursday, May 11th. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Applied DNA Sciences had a negative return on equity of 82.08% and a negative net margin of 28.78%. The business had revenue of $4.41 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same period in the prior year, the business posted ($0.28) earnings per share. Equities research analysts expect that Applied DNA Sciences will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Applied DNA Sciences by 53.6% during the 1st quarter. State Street Corp now owns 26,977 shares of the technology company’s stock worth $58,000 after acquiring an additional 9,416 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in Applied DNA Sciences by 32.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 83,110 shares of the technology company’s stock worth $138,000 after acquiring an additional 20,250 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Applied DNA Sciences by 53.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 65,916 shares of the technology company’s stock worth $141,000 after acquiring an additional 22,843 shares in the last quarter. Virtu Financial LLC acquired a new position in Applied DNA Sciences during the 1st quarter worth approximately $49,000. Finally, Raymond James & Associates acquired a new position in Applied DNA Sciences during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 15.27% of the company’s stock.

About Applied DNA Sciences

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Applied DNA Sciences, Inc, a biotechnology company, develops and commercializes technologies to produce and detect deoxyribonucleic acid (DNA) in the Americas, Europe, Asia, and internationally. The company operates through three segments: Therapeutic DNA Production Services; MDx Testing Services; and DNA Tagging and Security Products and Services.

Further Reading

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