Applied Therapeutics (NASDAQ:APLT) Shares Down 4.1%

Applied Therapeutics, Inc. (NASDAQ:APLT) shares dropped 4.1% during trading on Monday . The stock traded as low as $4.68 and last traded at $4.69. Approximately 243,620 shares changed 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.

Analyst Ratings Changes

APLT has been the topic of several recent research reports. Citigroup lifted their target price on Applied Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a report on Wednesday, July 17th. Finally, William Blair raised Applied Therapeutics to a “strong-buy” rating in a 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, the stock has a consensus rating of “Buy” and a consensus target price of $11.25.

Applied Therapeutics Trading Down 4.5 %

The company has a 50-day moving average price of $5.67 and a two-hundred day moving average price of $5.33. The stock has a market capitalization of $536.35 million, a P/E ratio of -2.66 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings data 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 firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $10.00 million. Research analysts forecast that Applied Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Insider Transactions at Applied Therapeutics

In related news, CEO Shoshana Shendelman sold 119,591 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $5.93, for a total value of $709,174.63. Following the completion of the sale, the chief executive officer now directly owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Applied Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC bought a new stake in Applied Therapeutics in the 2nd quarter valued at about $110,000. Frazier Life Sciences Management L.P. increased its holdings in Applied Therapeutics by 17.1% during 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 in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Applied Therapeutics during the 2nd quarter worth approximately $172,000. Sei Investments Co. bought a new stake in Applied Therapeutics during the 2nd quarter worth approximately $535,000. Finally, Victory Capital Management Inc. bought a new stake in Applied Therapeutics during the 2nd quarter worth approximately $54,000. 98.31% of the stock is 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.