Applied Therapeutics (NASDAQ:APLT) Stock Price Down 3.3%

Applied Therapeutics, Inc. (NASDAQ:APLT) traded down 3.3% on Wednesday . The stock traded as low as $4.98 and last traded at $4.98. 61,282 shares changed hands during trading, a decline of 97% from the average session volume of 1,982,179 shares. The stock had previously closed at $5.15.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Applied Therapeutics in a report on Thursday, February 22nd. SVB Leerink assumed coverage on Applied Therapeutics in a report on Thursday, February 22nd. They set an “outperform” rating and a $12.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a report on Thursday, April 11th. Citigroup increased their price target on Applied Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, UBS Group raised their target price on Applied Therapeutics from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, March 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $11.60.

Applied Therapeutics Trading Down 3.7 %

The firm has a market cap of $525.21 million, a price-to-earnings ratio of -3.66 and a beta of 1.81. The firm has a 50 day moving average price of $5.67 and a 200-day moving average price of $3.67.

Applied Therapeutics (NASDAQ:APLT) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.18). The firm had revenue of ($0.67) million during the quarter. As a group, equities analysts expect that Applied Therapeutics, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Shoshana Shendelman sold 318,573 shares of Applied Therapeutics stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $5.39, for a total transaction of $1,717,108.47. Following the completion of the sale, the chief executive officer now owns 3,817,814 shares in the company, valued at approximately $20,578,017.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Leslie D. Funtleyder sold 28,727 shares of Applied Therapeutics stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $5.39, for a total value of $154,838.53. Following the transaction, the chief financial officer now directly owns 308,421 shares of the company’s stock, valued at approximately $1,662,389.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shoshana Shendelman sold 318,573 shares of Applied Therapeutics stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $1,717,108.47. Following the completion of the transaction, the chief executive officer now directly owns 3,817,814 shares in the company, valued at $20,578,017.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 458,104 shares of company stock worth $2,469,181. 19.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Applied Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Vestal Point Capital LP acquired a new position in Applied Therapeutics during the 4th quarter worth approximately $13,919,000. Armistice Capital LLC acquired a new position in Applied Therapeutics during the 3rd quarter worth approximately $8,466,000. FMR LLC lifted its position in Applied Therapeutics by 343.6% during the 2nd quarter. FMR LLC now owns 4,007,283 shares of the company’s stock worth $3,800,000 after acquiring an additional 3,103,990 shares in the last quarter. Vanguard Group Inc. lifted its position in Applied Therapeutics by 126.1% during the 4th quarter. Vanguard Group Inc. now owns 3,230,481 shares of the company’s stock worth $10,822,000 after acquiring an additional 1,801,827 shares in the last quarter. Finally, AIGH Capital Management LLC lifted its position in Applied Therapeutics by 109.1% during the 4th quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock worth $5,558,000 after acquiring an additional 865,689 shares in the last quarter. 98.31% of the stock is owned by institutional investors and hedge funds.

Applied Therapeutics Company Profile

Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the development of a pipeline of novel product candidates against validated molecular targets in indications of high unmet medical need in the United States. The company's lead product candidate is AT-007 (also called govorestat) that has completed phase 3 for the treatment of galactosemia in healthy volunteers and adults, in pediatric clinical study for the treatment of galactosemia in kids, for treating enzyme sorbitol dehydrogenase, and for the treatment of phosphomannomutase enzyme-CDG.