Applied Therapeutics (NASDAQ:APLT) Shares Down 3.3%

Applied Therapeutics, Inc. (NASDAQ:APLT) dropped 3.3% on Wednesday . The stock traded as low as $4.98 and last traded at $4.98. Approximately 61,282 shares traded hands during trading, a decline of 97% from the average daily volume of 1,982,179 shares. The stock had previously closed at $5.15.

Analyst Ratings Changes

Several brokerages recently issued reports on APLT. SVB Leerink began coverage on Applied Therapeutics in a research report on Thursday, February 22nd. They set an “outperform” rating and a $12.00 target price for the company. UBS Group raised their target price on Applied Therapeutics from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Citigroup raised their target price on Applied Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Applied Therapeutics in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $11.60.

Applied Therapeutics Trading Down 1.9 %

The company has a 50-day moving average price of $5.75 and a two-hundred day moving average price of $3.69. The stock has a market capitalization of $501.92 million, a P/E ratio of -3.51 and a beta of 1.81.

Applied Therapeutics (NASDAQ:APLT) last issued its earnings results on Wednesday, March 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The company had revenue of ($0.67) million during the quarter. Research analysts forecast that Applied Therapeutics, Inc. will post -0.53 earnings per share for the current year.

Insider Transactions at Applied Therapeutics

In related news, insider Riccardo Perfetti sold 110,804 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total value of $597,233.56. Following the transaction, the insider now owns 1,031,537 shares in the company, valued at $5,559,984.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Applied Therapeutics news, CEO Shoshana Shendelman sold 318,573 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total transaction of $1,717,108.47. Following the sale, the chief executive officer now owns 3,817,814 shares of the company’s stock, valued at approximately $20,578,017.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Riccardo Perfetti sold 110,804 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total transaction of $597,233.56. Following the sale, the insider now directly owns 1,031,537 shares in the company, valued at approximately $5,559,984.43. The disclosure for this sale can be found here. Insiders have sold 458,104 shares of company stock worth $2,469,181 in the last 90 days. Insiders own 19.10% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of APLT. Acadian Asset Management LLC bought a new stake in Applied Therapeutics during the 1st quarter valued at $70,000. BlackRock Inc. increased its holdings in shares of Applied Therapeutics by 5.0% in the first quarter. BlackRock Inc. now owns 1,363,403 shares of the company’s stock worth $2,876,000 after purchasing an additional 64,872 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Applied Therapeutics by 1,503.4% in the first quarter. Renaissance Technologies LLC now owns 282,200 shares of the company’s stock worth $595,000 after purchasing an additional 264,600 shares during the period. State Street Corp increased its holdings in shares of Applied Therapeutics by 24.8% in the first quarter. State Street Corp now owns 426,404 shares of the company’s stock worth $900,000 after purchasing an additional 84,753 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Applied Therapeutics by 25.4% in the first quarter. Goldman Sachs Group Inc. now owns 94,664 shares of the company’s stock worth $200,000 after purchasing an additional 19,159 shares during the period. Institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Company 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.