Applied Therapeutics (NASDAQ:APLT) Stock Price Down 5.2%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s share price fell 5.2% during mid-day trading on Tuesday . The company traded as low as $4.58 and last traded at $4.58. 154,981 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,529,710 shares. The stock had previously closed at $4.83.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. SVB Leerink assumed coverage on Applied Therapeutics in a report on Thursday, February 22nd. They issued an “outperform” rating and a $12.00 target price on the stock. Leerink Partnrs restated an “outperform” rating on shares of Applied Therapeutics in a research report on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a research report on Thursday, April 11th. Finally, UBS Group lifted their price objective on Applied Therapeutics from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $11.00.

Applied Therapeutics Stock Down 6.8 %

The firm has a market capitalization of $514.22 million, a PE ratio of -2.47 and a beta of 1.88. The firm’s 50 day moving average price is $4.59 and its two-hundred day moving average price is $4.36.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The business had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $10.00 million. On average, sell-side analysts anticipate that Applied Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Transactions at Applied Therapeutics

In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total value of $631,500.00. Following the completion of the sale, the insider now directly owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the sale, the insider now owns 6,005,077 shares in the company, valued at $25,281,374.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Shoshana Shendelman sold 61,795 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $266,954.40. Following the completion of the sale, the chief executive officer now directly owns 3,756,019 shares in the company, valued at approximately $16,226,002.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,778 shares of company stock valued at $1,066,861. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of 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 in the last quarter. Vestal Point Capital LP bought a new stake in Applied Therapeutics during the fourth quarter worth approximately $13,919,000. Armistice Capital LLC bought a new stake in Applied Therapeutics during the third quarter worth approximately $8,466,000. StemPoint Capital LP lifted its position in Applied Therapeutics by 122.3% in 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 during the period. Finally, Artal Group S.A. bought a new position in Applied Therapeutics during the 1st quarter valued at $6,865,000. Institutional investors and hedge funds 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.