Applied Therapeutics (NASDAQ:APLT) Trading 7.7% Higher

Applied Therapeutics, Inc. (NASDAQ:APLT) was up 7.7% during mid-day trading on Tuesday . The stock traded as high as $6.33 and last traded at $6.28. Approximately 338,125 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,501,614 shares. The stock had previously closed at $5.83.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. William Blair started coverage on shares of Applied Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Applied Therapeutics Stock Up 5.5 %

The firm has a market cap of $702.74 million, a price-to-earnings ratio of -3.36 and a beta of 1.99. The firm has a fifty day moving average price of $5.11 and a 200-day moving average price of $5.02.

Insiders Place Their Bets

In related news, CFO Leslie D. Funtleyder sold 16,980 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $4.32, for a total value of $73,353.60. Following the completion of the sale, the chief financial officer now directly owns 291,441 shares in the company, valued at $1,259,025.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Shoshana Shendelman sold 61,795 shares of Applied Therapeutics stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $266,954.40. Following the transaction, the chief executive officer now directly owns 3,756,019 shares of the company’s stock, valued at approximately $16,226,002.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Leslie D. Funtleyder sold 16,980 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $73,353.60. Following the sale, the chief financial officer now owns 291,441 shares of the company’s stock, valued at approximately $1,259,025.12. The disclosure for this sale can be found here. In the last ninety 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

Several hedge funds have recently added to or reduced their stakes in APLT. Janus Henderson Group PLC lifted its position in shares of Applied Therapeutics by 198.6% during the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock worth $43,555,000 after purchasing an additional 4,266,179 shares in the last quarter. Propel Bio Management LLC lifted its holdings in Applied Therapeutics by 13.7% in the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock worth $41,561,000 after buying an additional 736,924 shares in the last quarter. Knoll Capital Management LLC lifted its holdings in Applied Therapeutics by 1.8% in the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock worth $37,908,000 after buying an additional 100,000 shares in the last quarter. Vestal Point Capital LP purchased a new position in Applied Therapeutics in the 4th quarter valued at about $13,919,000. Finally, StemPoint Capital LP grew its stake 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 valued at $13,716,000 after acquiring an additional 1,109,864 shares in the last quarter. 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.