Rhumbline Advisers Buys 133,351 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

Rhumbline Advisers grew its stake in Applied Therapeutics, Inc. (NASDAQ:APLT) by 24,513.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,895 shares of the company’s stock after buying an additional 133,351 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Applied Therapeutics worth $625,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in APLT. Opaleye Management Inc. increased its holdings in Applied Therapeutics by 22.3% in the 4th quarter. Opaleye Management Inc. now owns 1,092,500 shares of the company’s stock worth $3,660,000 after acquiring an additional 199,500 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Applied Therapeutics in the fourth quarter worth approximately $13,919,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Applied Therapeutics in the second quarter worth $920,000. Bank of New York Mellon Corp purchased a new stake in shares of Applied Therapeutics in the second quarter worth $1,325,000. Finally, Peregrine Capital Management LLC bought a new stake in shares of Applied Therapeutics during the 2nd quarter valued at $3,414,000. Institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Stock Up 5.5 %

APLT opened at $8.11 on Wednesday. The company has a market capitalization of $926.13 million, a PE ratio of -4.40 and a beta of 2.03. The firm has a 50-day simple moving average of $5.89 and a two-hundred day simple moving average of $5.34. Applied Therapeutics, Inc. has a 52 week low of $1.79 and a 52 week high of $9.39.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly 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 company had revenue of $0.14 million during the quarter, compared to the consensus estimate of $10.00 million. As a group, sell-side analysts expect that Applied Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Insider Transactions at Applied Therapeutics

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

Analysts Set New Price Targets

Several brokerages recently weighed in on APLT. Citigroup upped their target price on shares of Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Leerink Partners upped 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 raised Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Five 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, the stock presently has a consensus rating of “Buy” and a consensus price target 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.