The Manufacturers Life Insurance Company Invests $172,000 in Applied Therapeutics, Inc. (NASDAQ:APLT)

The Manufacturers Life Insurance Company purchased a new stake in Applied Therapeutics, Inc. (NASDAQ:APLT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 36,824 shares of the company’s stock, valued at approximately $172,000.

A number of other large investors have also recently bought and sold shares of APLT. Janus Henderson Group PLC lifted its holdings in shares of Applied Therapeutics by 198.6% during the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock valued at $43,555,000 after acquiring an additional 4,266,179 shares during the period. StemPoint Capital LP lifted its holdings in Applied Therapeutics by 122.3% during the 1st quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock valued at $13,716,000 after purchasing an additional 1,109,864 shares during the last quarter. Artal Group S.A. acquired a new position in Applied Therapeutics in the first quarter valued at about $6,865,000. Propel Bio Management LLC grew its stake in Applied Therapeutics by 13.7% during the first quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock worth $41,561,000 after buying an additional 736,924 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Applied Therapeutics during the second quarter worth approximately $3,414,000. 98.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 119,591 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is owned by insiders.

Applied Therapeutics Stock Up 3.8 %

NASDAQ:APLT opened at $8.96 on Friday. Applied Therapeutics, Inc. has a 12-month low of $1.79 and a 12-month high of $9.39. The stock’s fifty day simple moving average is $6.90 and its 200-day simple moving average is $5.59. The firm has a market capitalization of $1.02 billion, a P/E ratio of -4.87 and a beta of 2.04.

Applied Therapeutics (NASDAQ:APLT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $10.00 million. As a group, equities research analysts expect that Applied Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup boosted their target price on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Leerink Partners boosted their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $12.50.

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.