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

Posted by on Jul 16th, 2023

Equities research analysts at StockNews.com began coverage on shares of Applied DNA Sciences (NASDAQ:APDN – Get Free Report) in a research note issued to investors on Sunday. The firm set a “hold” rating on the technology company’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Applied DNA Sciences in a research report on Friday.

Applied DNA Sciences Price Performance

Shares of NASDAQ APDN opened at $1.33 on Friday. The stock has a fifty day simple moving average of $1.25 and a two-hundred day simple moving average of $1.30. Applied DNA Sciences has a 1-year low of $0.62 and a 1-year high of $7.35.

Applied DNA Sciences (NASDAQ:APDN – Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $4.41 million for the quarter, compared to the consensus estimate of $4.20 million. Applied DNA Sciences had a negative net margin of 28.78% and a negative return on equity of 82.08%. During the same period last year, the company posted ($0.28) earnings per share. Equities research analysts expect that Applied DNA Sciences will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Applied DNA Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in APDN. Prudential Financial Inc. purchased a new stake in shares of Applied DNA Sciences in the second quarter worth $34,000. Raymond James & Associates purchased a new stake in shares of Applied DNA Sciences in the fourth quarter worth $40,000. Virtu Financial LLC purchased a new stake in shares of Applied DNA Sciences in the first quarter worth $49,000. State Street Corp raised its position in shares of Applied DNA Sciences by 53.6% in the first quarter. State Street Corp now owns 26,977 shares of the technology company’s stock worth $58,000 after buying an additional 9,416 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Applied DNA Sciences in the first quarter worth $67,000. Hedge funds and other institutional investors own 16.36% of the company’s stock.

Applied DNA Sciences Company Profile

(Get Free Report)

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.

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