Applied Therapeutics (NASDAQ:APLT) Stock Price Down 3.3%

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) traded down 3.3% on Wednesday . The company traded as low as $4.98 and last traded at $4.98. 61,282 shares changed hands during trading, a decline of 97% from the average session volume of 1,982,179 shares. The stock had previously closed at $5.15.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. SVB Leerink started coverage on shares of Applied Therapeutics in a research note on Thursday, February 22nd. They set an “outperform” rating and a $12.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a research note on Thursday, April 11th. Leerink Partnrs reissued an “outperform” rating on shares of Applied Therapeutics in a report on Thursday, February 22nd. Citigroup increased their price objective on Applied Therapeutics from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, UBS Group increased their price objective on Applied Therapeutics from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, March 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $11.60.

Applied Therapeutics Stock Down 3.7 %

The firm has a market capitalization of $525.21 million, a price-to-earnings ratio of -3.66 and a beta of 1.81. The company has a fifty day moving average price of $5.67 and a two-hundred day moving average price of $3.67.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.18). The company had revenue of ($0.67) million during the quarter. On average, equities analysts anticipate that Applied Therapeutics, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Leslie D. Funtleyder sold 28,727 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total transaction of $154,838.53. Following the completion of the sale, the chief financial officer now directly owns 308,421 shares of the company’s stock, valued at $1,662,389.19. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Applied Therapeutics news, insider Riccardo Perfetti sold 110,804 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total value of $597,233.56. Following the completion of the sale, the insider now owns 1,031,537 shares of the company’s stock, valued at $5,559,984.43. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Leslie D. Funtleyder sold 28,727 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $154,838.53. Following the completion of the sale, the chief financial officer now directly owns 308,421 shares of the company’s stock, valued at approximately $1,662,389.19. The disclosure for this sale can be found here. Insiders sold a total of 458,104 shares of company stock valued at $2,469,181 over the last three months. 19.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Armistice Capital LLC acquired a new stake in Applied Therapeutics in the third quarter valued at $8,466,000. Schonfeld Strategic Advisors LLC acquired a new stake in Applied Therapeutics in the third quarter valued at $1,139,000. Worth Venture Partners LLC acquired a new stake in Applied Therapeutics in the third quarter valued at $483,000. AIGH Capital Management LLC acquired a new stake in Applied Therapeutics in the third quarter valued at $1,975,000. Finally, EAM Investors LLC acquired a new stake in Applied Therapeutics in the third quarter valued at $975,000. 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.