Applied Therapeutics (NASDAQ:APLT) Stock Price Up 5.5%

Applied Therapeutics, Inc. (NASDAQ:APLT) shares rose 5.5% on Tuesday . The company traded as high as $5.38 and last traded at $5.37. Approximately 221,487 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,524,001 shares. The stock had previously closed at $5.09.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Therapeutics currently has an average rating of “Buy” and a consensus price target of $11.00.

Applied Therapeutics Stock Up 5.1 %

The company’s 50 day simple moving average is $4.68 and its 200-day simple moving average is $4.68.

Applied Therapeutics (NASDAQ:APLT) last posted its earnings results on Thursday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $0.19 million for the quarter, compared to analyst estimates of $10.00 million. As a group, equities analysts anticipate that Applied Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction on 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 approximately $25,281,374.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction on 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 approximately $25,281,374.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Leslie D. Funtleyder sold 16,980 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.32, for a total transaction of $73,353.60. Following the sale, the chief financial officer now owns 291,441 shares in the company, valued at approximately $1,259,025.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,778 shares of company stock worth $1,066,861. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Therapeutics

Large investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. purchased a new position in Applied Therapeutics in the 4th quarter worth $34,000. Jump Financial LLC purchased a new position in Applied Therapeutics in the 4th quarter worth $81,000. SG Americas Securities LLC purchased a new position in Applied Therapeutics in the 2nd quarter worth $87,000. Citigroup Inc. bought a new stake in Applied Therapeutics in the 3rd quarter worth $164,000. Finally, Denali Advisors LLC bought a new stake in Applied Therapeutics in the 1st quarter worth $228,000. Hedge funds and other 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.