Applied Therapeutics (NASDAQ:APLT) Trading Down 2.2% – Here’s What Happened

Applied Therapeutics, Inc. (NASDAQ:APLT) fell 2.2% during mid-day trading on Wednesday . The company traded as low as $8.94 and last traded at $8.94. 144,711 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,845,457 shares. The stock had previously closed at $9.14.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on APLT shares. Citigroup boosted their price target on Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Leerink Partners boosted their price target on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $12.50.

Applied Therapeutics Price Performance

The stock has a market cap of $1.00 billion, a P/E ratio of -4.97 and a beta of 2.04. The business’s fifty day moving average price is $6.75 and its 200 day moving average price is $5.53.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) 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 analyst estimates of $10.00 million. On average, analysts predict that Applied Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Shoshana Shendelman sold 119,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 owns 4,690,839 shares of the company’s stock, valued at $27,816,675.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in shares of 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 buying an additional 4,266,179 shares during the period. Propel Bio Management LLC boosted its stake in shares of Applied Therapeutics by 13.7% during the first 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 during the period. Knoll Capital Management LLC grew its holdings in Applied Therapeutics by 1.8% in the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock worth $37,908,000 after acquiring an additional 100,000 shares during the last quarter. 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 valued at $10,676,000 after purchasing an additional 333,278 shares during the period. Finally, StemPoint Capital LP raised its holdings in shares of Applied Therapeutics by 122.3% during the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock valued at $13,716,000 after acquiring an additional 1,109,864 shares in the last quarter. 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.