Marathon Trading Investment Management LLC Cuts Holdings in Applied Therapeutics, Inc. (NASDAQ:APLT)

Marathon Trading Investment Management LLC lessened its stake in Applied Therapeutics, Inc. (NASDAQ:APLT) by 73.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,907 shares of the company’s stock after selling 43,093 shares during the period. Marathon Trading Investment Management LLC’s holdings in Applied Therapeutics were worth $74,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in shares of Applied Therapeutics in the 2nd quarter valued at $54,000. Principal Financial Group Inc. purchased a new stake in shares of Applied Therapeutics in the 2nd quarter valued at $54,000. SG Americas Securities LLC purchased a new stake in shares of Applied Therapeutics in the 2nd quarter valued at $87,000. Jump Financial LLC purchased a new stake in shares of Applied Therapeutics in the 4th quarter valued at $81,000. Finally, Denali Advisors LLC purchased a new stake in shares of Applied Therapeutics in the 1st quarter valued at $228,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Stock Up 68.8 %

Shares of APLT opened at $7.85 on Thursday. The stock has a market capitalization of $897.00 million, a P/E ratio of -4.27 and a beta of 2.03. The firm has a fifty day simple moving average of $5.71 and a two-hundred day simple moving average of $5.31. Applied Therapeutics, Inc. has a twelve month low of $1.79 and a twelve month high of $9.39.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The business had revenue of $0.14 million for the quarter, compared to analyst estimates of $10.00 million. Sell-side analysts expect that Applied Therapeutics, Inc. will post -0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APLT. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Finally, Citigroup increased their price target on shares of Applied Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Applied Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $11.25.

Insiders Place Their Bets

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 119,591 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total value of $709,174.63. Following the completion of the transaction, the chief executive officer now directly owns 4,690,839 shares in the company, valued at approximately $27,816,675.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.60% of the company’s stock.

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.