Logos Global Management LP Sells 750,000 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

Logos Global Management LP decreased its position in Applied Therapeutics, Inc. (NASDAQ:APLT) by 55.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,000 shares of the company’s stock after selling 750,000 shares during the period. Logos Global Management LP owned approximately 0.53% of Applied Therapeutics worth $2,662,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in Applied Therapeutics in the 2nd quarter worth about $54,000. Principal Financial Group Inc. bought a new position in Applied Therapeutics in the 2nd quarter worth about $54,000. SG Americas Securities LLC bought a new position in Applied Therapeutics in the 2nd quarter worth about $87,000. Jump Financial LLC bought a new position in Applied Therapeutics in the 4th quarter worth about $81,000. Finally, Denali Advisors LLC bought a new position in Applied Therapeutics during the 1st quarter valued at about $228,000. Institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Trading Down 0.3 %

Applied Therapeutics stock opened at $7.68 on Tuesday. The firm has a 50 day moving average of $5.84 and a 200 day moving average of $5.33. The firm has a market capitalization of $877.57 million, a price-to-earnings ratio of -4.17 and a beta of 2.03. Applied Therapeutics, Inc. has a 12-month low of $1.79 and a 12-month high of $9.39.

Applied Therapeutics (NASDAQ:APLT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates 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 predict that Applied Therapeutics, Inc. will post -0.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on APLT. Royal Bank of Canada restated an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Leerink Partners upped their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Citigroup upped their target price on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $12.50.

Insiders Place Their Bets

In other news, CEO Shoshana Shendelman sold 119,591 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was 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 in the company, valued at $27,816,675.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Applied Therapeutics 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.