Applied Therapeutics (NASDAQ:APLT) Stock Price Down 4.1%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price was down 4.1% during mid-day trading on Monday . The company traded as low as $4.68 and last traded at $4.69. Approximately 243,620 shares traded hands during trading, a decline of 83% from the average daily volume of 1,443,672 shares. The stock had previously closed at $4.89.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on APLT. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Citigroup boosted their price objective on shares of Applied Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price on shares of Applied Therapeutics in a report on Wednesday, July 17th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $11.25.

Applied Therapeutics Trading Up 68.8 %

The firm has a market capitalization of $897.00 million, a P/E ratio of -4.14 and a beta of 2.03. The stock has a 50 day simple moving average of $5.66 and a 200-day simple moving average of $5.29.

Applied Therapeutics (NASDAQ:APLT) last announced its earnings results 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 company had revenue of $0.14 million for 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 fiscal year.

Insider Transactions at Applied Therapeutics

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 300,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.98, for a total value of $1,794,000.00. Following the completion of the sale, the chief executive officer now owns 5,167,853 shares in the company, valued at $30,903,760.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Applied Therapeutics

A number of hedge funds have recently modified their holdings of APLT. AIGH Capital Management LLC lifted its stake in shares of Applied Therapeutics by 109.1% during the 4th quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock valued at $5,558,000 after buying an additional 865,689 shares in the last quarter. Opaleye Management Inc. boosted its stake in shares of Applied Therapeutics by 22.3% in the fourth 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 during the period. Vestal Point Capital LP purchased a new stake in shares of Applied Therapeutics during the fourth quarter worth about $13,919,000. Hennion & Walsh Asset Management Inc. purchased a new position in Applied Therapeutics in the 2nd quarter worth approximately $920,000. Finally, Peregrine Capital Management LLC purchased a new position in Applied Therapeutics in the 2nd quarter worth approximately $3,414,000. 98.31% of the stock is currently owned by 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.