Applied Therapeutics, Inc. (NASDAQ:APLT) Shares Sold by Logos Global Management LP

Logos Global Management LP cut its holdings in shares of Applied Therapeutics, Inc. (NASDAQ:APLT) by 55.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 600,000 shares of the company’s stock after selling 750,000 shares during the quarter. Logos Global Management LP’s holdings in Applied Therapeutics were worth $2,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new position in Applied Therapeutics during the 2nd quarter valued at about $54,000. Principal Financial Group Inc. purchased a new stake in shares of Applied Therapeutics during the 2nd quarter worth approximately $54,000. SG Americas Securities LLC purchased a new stake in shares of Applied Therapeutics during the 2nd quarter worth approximately $87,000. Jump Financial LLC purchased a new stake in shares of Applied Therapeutics during the 4th quarter worth approximately $81,000. Finally, Denali Advisors LLC acquired a new position in Applied Therapeutics in the 1st quarter valued at $228,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Applied Therapeutics Stock Down 0.3 %

NASDAQ:APLT opened at $7.68 on Tuesday. Applied Therapeutics, Inc. has a 1-year low of $1.79 and a 1-year high of $9.39. The firm has a market capitalization of $877.57 million, a price-to-earnings ratio of -4.17 and a beta of 2.03. The stock has a fifty day simple moving average of $5.84 and a 200 day simple moving average of $5.33.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) EPS 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. Equities analysts predict that Applied Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

APLT has been the topic of a number of recent research reports. Leerink Partners upped their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Citigroup increased their price objective 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, William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.50.

Insider Activity

In other news, CEO Shoshana Shendelman sold 119,591 shares of Applied Therapeutics stock in a transaction dated 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 sale, 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 filing with the SEC, which can be accessed through this link. 8.60% of the stock is owned by corporate insiders.

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.