Applied Therapeutics (NASDAQ:APLT) Lowered to “Sell” at Zacks Investment Research

Applied Therapeutics (NASDAQ:APLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, reports.

According to Zacks, “Applied Therapeutics Inc. is a clinical-stage biopharmaceutical company. It engages in developing drug candidates for unmet medical need. The company’s product candidate consists of AT-001, for the treatment of Diabetic Cardiomyopathy; AT-007, for the treatment of Galactosemia and AT-003, for the treatment of diabetic retinopathy which are in clinical stage. Applied Therapeutics Inc. is based in New York, United States. “

Shares of Applied Therapeutics stock traded up $4.39 during trading hours on Wednesday, reaching $24.11. The stock had a trading volume of 4,718 shares, compared to its average volume of 30,863. The business’s 50 day simple moving average is $15.58. Applied Therapeutics has a 1 year low of $7.95 and a 1 year high of $20.50.

Applied Therapeutics (NASDAQ:APLT) last issued its earnings results on Wednesday, November 13th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.14). Analysts expect that Applied Therapeutics will post -3.08 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new position in shares of Applied Therapeutics in the 3rd quarter valued at $35,000. Northern Trust Corp purchased a new stake in shares of Applied Therapeutics during the 2nd quarter valued at about $59,000. Emerald Advisers LLC acquired a new position in Applied Therapeutics during the 3rd quarter worth approximately $111,000. State Street Corp acquired a new position in Applied Therapeutics during the 3rd quarter worth approximately $119,000. Finally, Bank of New York Mellon Corp purchased a new position in Applied Therapeutics in the 2nd quarter worth approximately $172,000. 13.99% of the stock is owned by institutional investors.

About Applied Therapeutics

Applied Therapeutics, Inc, a biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-001 that is in phase II clinical trials for treating diabetic cardiomyopathy, as well as is in phase I clinical trials to treat diabetic peripheral neuropathy.

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