Applied Therapeutics (NASDAQ:APLT) Shares Down 9.7%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price fell 9.7% during mid-day trading on Monday . The stock traded as low as $5.61 and last traded at $5.61. 580,184 shares were traded during mid-day trading, a decline of 61% from the average session volume of 1,497,955 shares. The stock had previously closed at $6.21.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a research report on Wednesday, July 17th. William Blair began coverage on shares of Applied Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $11.00.

Applied Therapeutics Stock Performance

The business’s fifty day simple moving average is $5.08 and its 200-day simple moving average is $5.00. The firm has a market capitalization of $666.18 million, a PE ratio of -3.16 and a beta of 1.99.

Applied Therapeutics (NASDAQ:APLT) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $0.19 million for the quarter, compared to analyst estimates of $10.00 million. Sell-side analysts expect that Applied Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity at Applied Therapeutics

In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total transaction of $631,500.00. Following the sale, the insider now directly owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Riccardo Perfetti sold 22,003 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $95,052.96. Following the completion of the sale, the insider now directly owns 1,009,534 shares of the company’s stock, valued at approximately $4,361,186.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. Following the sale, the insider now owns 6,005,077 shares in the company, valued at approximately $25,281,374.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 250,778 shares of company stock valued at $1,066,861. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC raised its position in Applied Therapeutics by 198.6% in the 1st quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock worth $43,555,000 after purchasing an additional 4,266,179 shares during the period. Vestal Point Capital LP purchased a new stake in shares of Applied Therapeutics in the fourth quarter worth approximately $13,919,000. StemPoint Capital LP lifted its stake in shares of Applied Therapeutics by 122.3% during the 1st quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock worth $13,716,000 after acquiring an additional 1,109,864 shares during the last quarter. Artal Group S.A. purchased a new position in Applied Therapeutics during the 1st quarter valued at $6,865,000. Finally, AIGH Capital Management LLC grew its position in Applied Therapeutics by 109.1% in the 4th quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock valued at $5,558,000 after acquiring an additional 865,689 shares during the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.

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.