Applied Therapeutics (NASDAQ:APLT) Shares Up 10.4%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s share price traded up 10.4% on Wednesday . The company traded as high as $5.53 and last traded at $5.50. 390,340 shares were traded during trading, a decline of 74% from the average session volume of 1,487,689 shares. The stock had previously closed at $4.98.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $12.00 price objective on shares of Applied Therapeutics in a research report on Wednesday, July 17th. William Blair assumed coverage on shares of Applied Therapeutics in a research report on Wednesday. They set an “outperform” rating on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $11.00.

Applied Therapeutics Price Performance

The firm has a market capitalization of $678.76 million, a P/E ratio of -2.91 and a beta of 1.99. The company’s 50-day simple moving average is $4.78 and its two-hundred day simple moving average is $4.80.

Applied Therapeutics (NASDAQ:APLT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.16) earnings per share 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. Analysts predict that Applied Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Shoshana Shendelman sold 61,795 shares of the stock in a transaction on Thursday, June 6th. The shares were 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 of the company’s stock, valued at $16,226,002.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Shoshana Shendelman sold 61,795 shares of the stock in a transaction on Thursday, June 6th. The shares were 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 of the company’s stock, valued at $16,226,002.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Leslie D. Funtleyder sold 16,980 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $73,353.60. Following the completion of the sale, the chief financial officer now directly owns 291,441 shares of the company’s stock, valued at $1,259,025.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 250,778 shares of company stock worth $1,066,861. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Applied Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC grew its stake in Applied Therapeutics by 109.1% during the fourth quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock valued at $5,558,000 after acquiring an additional 865,689 shares in the last quarter. Opaleye Management Inc. grew its stake in Applied Therapeutics by 22.3% during the fourth quarter. Opaleye Management Inc. now owns 1,092,500 shares of the company’s stock valued at $3,660,000 after acquiring an additional 199,500 shares in the last quarter. Vestal Point Capital LP purchased a new position in Applied Therapeutics during the fourth quarter valued at $13,919,000. Worth Venture Partners LLC grew its stake in Applied Therapeutics by 112.9% during the fourth quarter. Worth Venture Partners LLC now owns 412,981 shares of the company’s stock valued at $1,383,000 after acquiring an additional 219,008 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Applied Therapeutics during the fourth quarter valued at $81,000. 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.