Applied DNA Sciences (NASDAQ:APDN) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a research note released on Monday morning. The brokerage issued a sell rating on the technology company’s stock.

Applied DNA Sciences Stock Up 14.9 %

Shares of APDN opened at $2.00 on Monday. The business’s 50 day moving average price is $7.67 and its 200-day moving average price is $17.76. Applied DNA Sciences has a 52 week low of $1.67 and a 52 week high of $522.00. The stock has a market cap of $2.21 million, a P/E ratio of -0.35 and a beta of 0.43.

Applied DNA Sciences (NASDAQ:APDN) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($28.00) EPS for the quarter, missing analysts’ consensus estimates of ($16.00) by ($12.00). Applied DNA Sciences had a negative return on equity of 101.57% and a negative net margin of 228.12%. On average, equities analysts anticipate that Applied DNA Sciences will post -0.87 EPS for the current year.

Hedge Funds Weigh In On Applied DNA Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in Applied DNA Sciences in the 3rd quarter valued at approximately $48,000. Millennium Management LLC bought a new position in Applied DNA Sciences in the 4th quarter valued at approximately $28,000. Connective Capital Management LLC bought a new position in Applied DNA Sciences in the 4th quarter valued at approximately $36,000. Finally, Geode Capital Management LLC lifted its position in Applied DNA Sciences by 291.1% in the 4th quarter. Geode Capital Management LLC now owns 417,485 shares of the technology company’s stock valued at $85,000 after acquiring an additional 310,749 shares in the last quarter. 22.22% of the stock is owned by institutional investors.

About Applied DNA Sciences

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. It operates through three segments: Therapeutic DNA Production Services; MDx Testing Services; and DNA Tagging and Security Products and Services.