Applied Therapeutics (NASDAQ:APLT) Stock Price Down 6.9%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price traded down 6.9% on Tuesday . The company traded as low as $5.36 and last traded at $5.36. 273,596 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,444,879 shares. The stock had previously closed at $5.76.

Analysts Set New Price Targets

Several equities research analysts have recently commented on APLT shares. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Finally, Citigroup increased their target price on Applied Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $11.25.

Applied Therapeutics Price Performance

The company has a market cap of $557.62 million, a PE ratio of -2.70 and a beta of 2.03. The stock’s 50-day moving average is $5.65 and its 200 day moving average is $5.35.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $10.00 million. On average, analysts expect that Applied Therapeutics, Inc. will post -0.48 EPS for the current year.

Insiders Place Their Bets

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 119,591 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total value of $709,174.63. Following the completion of the transaction, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at $27,816,675.27. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings 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 buying an additional 4,266,179 shares during the period. Vestal Point Capital LP purchased a new stake in shares of Applied Therapeutics in the 4th quarter valued at $13,919,000. StemPoint Capital LP increased its stake in shares of Applied Therapeutics by 122.3% in the first 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 period. Artal Group S.A. purchased a new position in shares of Applied Therapeutics during the first quarter worth $6,865,000. Finally, AIGH Capital Management LLC raised its holdings in shares of Applied Therapeutics by 109.1% during the fourth quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock worth $5,558,000 after purchasing an additional 865,689 shares during 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.