Vestal Point Capital LP Has $9.73 Million Stake in Applied Therapeutics, Inc. (NASDAQ:APLT)

Vestal Point Capital LP trimmed its position in Applied Therapeutics, Inc. (NASDAQ:APLT) by 78.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,145,000 shares of the company’s stock after selling 4,285,000 shares during the period. Vestal Point Capital LP owned approximately 0.98% of Applied Therapeutics worth $9,732,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Peregrine Capital Management LLC bought a new position in shares of Applied Therapeutics during the second quarter worth about $3,414,000. Ally Bridge Group NY LLC acquired a new stake in Applied Therapeutics in the 3rd quarter valued at about $5,256,000. Charles Schwab Investment Management Inc. grew its holdings in Applied Therapeutics by 165.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after purchasing an additional 457,940 shares during the period. Frazier Life Sciences Management L.P. increased its position in Applied Therapeutics by 17.1% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after buying an additional 333,278 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Applied Therapeutics in the second quarter valued at approximately $1,325,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Applied Therapeutics Price Performance

Shares of NASDAQ:APLT opened at $8.57 on Friday. The company’s 50 day simple moving average is $8.82 and its 200 day simple moving average is $6.45. Applied Therapeutics, Inc. has a 1 year low of $1.82 and a 1 year high of $10.62.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partners lifted their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Citigroup increased their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada cut Applied Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $12.00 to $4.00 in a report on Friday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.50.

Applied Therapeutics 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.