Applied Therapeutics (NASDAQ:APLT) Shares Down 4.9% – What’s Next?

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) traded down 4.9% on Friday . The company traded as low as $8.42 and last traded at $8.48. 1,342,143 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 1,832,952 shares. The stock had previously closed at $8.92.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 target price on shares of Applied Therapeutics in a report on Wednesday, July 17th. Leerink Partners upped their price target on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Citigroup upped their price target on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.50.

Applied Therapeutics Stock Performance

The firm has a market cap of $968.98 million, a PE ratio of -4.85 and a beta of 2.04. The firm has a fifty day simple moving average of $7.14 and a two-hundred day simple moving average of $5.68.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings data 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 analyst estimates of $10.00 million. Equities analysts forecast that Applied Therapeutics, Inc. will post -0.48 EPS for the current fiscal year.

Insider Activity

In related news, CEO Shoshana Shendelman sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $5.98, for a total transaction of $1,794,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,167,853 shares of the company’s stock, valued at approximately $30,903,760.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds have recently made changes to their positions in APLT. Denali Advisors LLC purchased a new stake in shares of Applied Therapeutics in the 1st quarter worth $228,000. Propel Bio Management LLC raised its position in shares of Applied Therapeutics by 13.7% in the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock worth $41,561,000 after acquiring an additional 736,924 shares in the last quarter. StemPoint Capital LP raised its position in shares of Applied Therapeutics by 122.3% in the 1st quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock worth $13,716,000 after acquiring an additional 1,109,864 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Applied Therapeutics in the 1st quarter worth $272,000. Finally, Altitude Crest Partners Inc. bought a new position in shares of Applied Therapeutics in the 1st quarter worth $1,766,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

About Applied Therapeutics

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.