Applied Therapeutics (NASDAQ:APLT) Trading Down 5.3%

Applied Therapeutics, Inc. (NASDAQ:APLT) shares were down 5.3% during trading on Wednesday . The stock traded as low as $5.54 and last traded at $5.55. Approximately 504,823 shares changed hands during trading, a decline of 65% from the average daily volume of 1,460,245 shares. The stock had previously closed at $5.86.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APLT. Citigroup boosted their target price on Applied Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. William Blair upgraded shares of 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 set a $12.00 price objective on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $11.25.

Applied Therapeutics Stock Performance

The firm’s fifty day simple moving average is $5.57 and its 200 day simple moving average is $5.35. The firm has a market cap of $651.32 million, a P/E ratio of -3.07 and a beta of 1.99.

Applied Therapeutics (NASDAQ:APLT) last issued 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. On average, equities research analysts predict that Applied Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Shoshana Shendelman sold 119,591 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was 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 directly owns 4,690,839 shares in the company, valued at $27,816,675.27. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in Applied Therapeutics by 198.6% during the 1st 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. Vestal Point Capital LP bought a new position in shares of Applied Therapeutics in the fourth quarter worth about $13,919,000. StemPoint Capital LP increased its stake in 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 buying an additional 1,109,864 shares during the period. Artal Group S.A. purchased a new stake in Applied Therapeutics in the 1st quarter valued at about $6,865,000. Finally, AIGH Capital Management LLC increased its position in shares of Applied Therapeutics by 109.1% during the fourth quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock worth $5,558,000 after acquiring an additional 865,689 shares during the period. Hedge funds and other institutional investors own 98.31% of the company’s stock.

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.