Franklin Resources Inc. Sells 3,412,035 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

Franklin Resources Inc. lessened its position in shares of Applied Therapeutics, Inc. (NASDAQ:APLT) by 33.4% during the third quarter, HoldingsChannel.com reports. The fund owned 6,800,910 shares of the company’s stock after selling 3,412,035 shares during the period. Franklin Resources Inc. owned approximately 0.06% of Applied Therapeutics worth $60,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC grew its position in shares of Applied Therapeutics by 37.8% during the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock valued at $89,656,000 after purchasing an additional 2,893,323 shares in the last quarter. State Street Corp boosted its stake in Applied Therapeutics by 123.1% during the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after buying an additional 2,038,724 shares during the period. Peregrine Capital Management LLC bought a new stake in Applied Therapeutics during the second quarter valued at $3,414,000. Ally Bridge Group NY LLC purchased a new position in Applied Therapeutics during the third quarter worth about $5,256,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Applied Therapeutics by 165.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after acquiring an additional 457,940 shares during the last quarter. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Applied Therapeutics Stock Performance

Shares of Applied Therapeutics stock opened at $1.15 on Tuesday. Applied Therapeutics, Inc. has a 52-week low of $1.03 and a 52-week high of $10.62. The company has a fifty day moving average of $7.34 and a 200-day moving average of $6.26. The stock has a market capitalization of $133.81 million, a price-to-earnings ratio of -0.71 and a beta of 1.76.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Robert W. Baird cut their price objective on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Leerink Partners boosted their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Citigroup lowered their price objective on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Royal Bank of Canada lowered shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $12.00 to $4.00 in a research report on Friday, November 29th. Finally, UBS Group restated a “neutral” rating and set a $2.00 price target (down previously from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Applied Therapeutics has an average rating of “Moderate Buy” and an average price target of $6.60.

About Applied Therapeutics

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.