Hennion & Walsh Asset Management Inc. Raises Position in Applied Therapeutics, Inc. (NASDAQ:APLT)

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Applied Therapeutics, Inc. (NASDAQ:APLT) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 313,355 shares of the company’s stock after buying an additional 47,983 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.27% of Applied Therapeutics worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in shares of Applied Therapeutics during the 2nd quarter valued at about $54,000. Algert Global LLC purchased a new stake in Applied Therapeutics in the second quarter valued at approximately $110,000. Y Intercept Hong Kong Ltd purchased a new stake in Applied Therapeutics in the third quarter valued at approximately $149,000. Intech Investment Management LLC bought a new stake in Applied Therapeutics during the third quarter valued at approximately $162,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Applied Therapeutics in the 2nd quarter worth approximately $172,000. 98.31% of the stock is currently owned by institutional investors.

Applied Therapeutics Trading Up 0.3 %

Shares of NASDAQ:APLT opened at $0.66 on Wednesday. The stock has a market capitalization of $76.24 million, a P/E ratio of -0.41 and a beta of 1.83. The stock’s 50-day moving average price is $3.13 and its 200-day moving average price is $5.57. Applied Therapeutics, Inc. has a 12-month low of $0.60 and a 12-month high of $10.62.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on APLT shares. William Blair cut shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 23rd. Royal Bank of Canada lowered their price target on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a research report on Friday, December 20th. UBS Group reiterated a “neutral” rating and issued a $2.00 price objective (down from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Citigroup reduced their price objective on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Robert W. Baird dropped their target price on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.10.

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.