Vestal Point Capital LP Has $9.73 Million Stake in Applied Therapeutics, Inc. (NASDAQ:APLT)

Vestal Point Capital LP lessened its position in Applied Therapeutics, Inc. (NASDAQ:APLT) by 78.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,145,000 shares of the company’s stock after selling 4,285,000 shares during the period. Vestal Point Capital LP’s holdings in Applied Therapeutics were worth $9,732,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of APLT. Victory Capital Management Inc. bought a new position in Applied Therapeutics in the 2nd quarter valued at approximately $54,000. Principal Financial Group Inc. acquired a new position in Applied Therapeutics in the 2nd quarter valued at approximately $54,000. SG Americas Securities LLC bought a new position in shares of Applied Therapeutics during the second quarter valued at $87,000. Algert Global LLC acquired a new position in shares of Applied Therapeutics during the second quarter worth $110,000. Finally, Intech Investment Management LLC bought a new stake in shares of Applied Therapeutics in the third quarter worth $162,000. 98.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APLT. Leerink Partners raised their target price 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. Citigroup increased their target price on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada downgraded shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $12.00 to $4.00 in a research report on Friday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $10.50.

Applied Therapeutics Price Performance

Shares of Applied Therapeutics stock opened at $8.57 on Friday. Applied Therapeutics, Inc. has a 52 week low of $1.82 and a 52 week high of $10.62. The business has a 50 day moving average price of $8.82 and a 200-day moving average price of $6.45.

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.