Perceptive Advisors LLC Sells 500,000 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

Perceptive Advisors LLC reduced its stake in shares of Applied Therapeutics, Inc. (NASDAQ:APLT) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,005,000 shares of the company’s stock after selling 500,000 shares during the period. Perceptive Advisors LLC owned approximately 0.07% of Applied Therapeutics worth $37,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC grew its position in Applied Therapeutics by 198.6% during the first 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 last quarter. Propel Bio Management LLC boosted its stake in shares of Applied Therapeutics by 13.7% in the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock valued at $41,561,000 after purchasing an additional 736,924 shares in the last quarter. Knoll Capital Management LLC grew its holdings in shares of Applied Therapeutics by 1.8% during the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock valued at $37,908,000 after purchasing an additional 100,000 shares during the last quarter. Vestal Point Capital LP bought a new position in shares of Applied Therapeutics during the 4th quarter valued at $13,919,000. Finally, Frazier Life Sciences Management L.P. raised its position in Applied Therapeutics by 17.1% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after purchasing an additional 333,278 shares during the period. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APLT. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners raised their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Finally, Citigroup upped their price objective on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Applied Therapeutics presently has a consensus rating of “Buy” and an average target price of $12.50.

Applied Therapeutics Trading Down 1.7 %

Shares of APLT opened at $8.27 on Monday. Applied Therapeutics, Inc. has a 1-year low of $1.79 and a 1-year high of $9.39. The firm’s 50-day moving average price is $6.07 and its 200-day moving average price is $5.39. The firm has a market capitalization of $944.99 million, a price-to-earnings ratio of -4.49 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $10.00 million. On average, research analysts forecast that Applied Therapeutics, Inc. will post -0.48 EPS for the current fiscal year.

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.