Applied Therapeutics (NASDAQ:APLT) Stock Price Down 3%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s share price was down 3% during mid-day trading on Monday . The company traded as low as $4.47 and last traded at $4.53. Approximately 82,514 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,608,875 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

A number of research firms recently commented on APLT. UBS Group boosted their price target on Applied Therapeutics from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Therapeutics presently has a consensus rating of “Buy” and an average target price of $11.00.

Applied Therapeutics Price Performance

The stock has a 50 day moving average of $4.49 and a 200 day moving average of $4.47.

Applied Therapeutics (NASDAQ:APLT) last issued its earnings results on Thursday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $10.00 million. Equities analysts expect that Applied Therapeutics, Inc. will post -0.59 EPS for the current year.

Insiders Place Their Bets

In other Applied Therapeutics news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total transaction of $631,500.00. Following the completion of the transaction, the insider now owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Riccardo Perfetti sold 22,003 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $95,052.96. Following the completion of the transaction, the insider now owns 1,009,534 shares of the company’s stock, valued at $4,361,186.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. Following the completion of the transaction, the insider now directly owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,778 shares of company stock valued at $1,066,861. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. acquired a new position in shares of Applied Therapeutics in the fourth quarter valued at approximately $34,000. Jump Financial LLC bought a new stake in Applied Therapeutics in the fourth quarter valued at approximately $81,000. Rock Springs Capital Management LP boosted its holdings in Applied Therapeutics by 3.6% in the third quarter. Rock Springs Capital Management LP now owns 808,809 shares of the company’s stock valued at $2,014,000 after acquiring an additional 28,018 shares during the last quarter. Denali Advisors LLC bought a new stake in Applied Therapeutics in the first quarter valued at approximately $228,000. Finally, EntryPoint Capital LLC bought a new stake in Applied Therapeutics in the first quarter valued at approximately $272,000. Institutional investors and hedge funds 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.