Applied Therapeutics (NASDAQ:APLT) Shares Down 4.9% – Time to Sell?

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) traded down 4.9% on Friday . The company traded as low as $8.42 and last traded at $8.48. 1,342,143 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 1,832,952 shares. The stock had previously closed at $8.92.

Analysts Set New Price Targets

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

Applied Therapeutics Stock Down 4.9 %

The company has a market cap of $968.98 million, a PE ratio of -4.85 and a beta of 2.04. The business has a 50-day simple moving average of $7.14 and a 200-day simple moving average of $5.68.

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

Insider Transactions at Applied Therapeutics

In related 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Applied Therapeutics

A number of institutional investors have recently bought and sold shares of APLT. Janus Henderson Group PLC lifted its holdings in Applied Therapeutics by 198.6% during the 1st quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock worth $43,555,000 after buying an additional 4,266,179 shares during the last quarter. StemPoint Capital LP increased its position 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 worth $13,716,000 after purchasing an additional 1,109,864 shares in the last quarter. Artal Group S.A. acquired a new stake in shares of Applied Therapeutics during the first quarter worth about $6,865,000. Propel Bio Management LLC increased its position 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 worth $41,561,000 after purchasing an additional 736,924 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Applied Therapeutics during the second quarter worth about $3,414,000. 98.31% of the stock is owned by hedge funds and other 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.