Applied Therapeutics (NASDAQ:APLT) Trading Down 4.1%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price was down 4.1% during trading on Monday . The stock traded as low as $4.68 and last traded at $4.69. Approximately 243,620 shares changed hands during trading, a decline of 83% from the average daily volume of 1,443,672 shares. The stock had previously closed at $4.89.

Analyst Ratings Changes

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

Applied Therapeutics Stock Up 68.8 %

The company’s fifty day simple moving average is $5.66 and its 200 day simple moving average is $5.29. The firm has a market capitalization of $897.00 million, a PE ratio of -4.14 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (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. Equities research analysts forecast that Applied Therapeutics, Inc. will post -0.48 EPS for the current year.

Insider Buying and Selling at Applied Therapeutics

In related news, CEO Shoshana Shendelman sold 119,591 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC bought a new position in Applied Therapeutics in the 2nd quarter worth about $110,000. Frazier Life Sciences Management L.P. raised its holdings in Applied Therapeutics by 17.1% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after buying an additional 333,278 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Applied Therapeutics in the second quarter worth approximately $172,000. Sei Investments Co. purchased a new stake in shares of Applied Therapeutics during the second quarter valued at approximately $535,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Applied Therapeutics during the second quarter valued at approximately $54,000. Institutional investors own 98.31% of the company’s stock.

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.