Applied Therapeutics (NASDAQ:APLT) Stock Price Up 5.4%

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) shot up 5.4% during trading on Thursday . The stock traded as high as $4.84 and last traded at $4.70. 94,395 shares changed hands during trading, a decline of 94% from the average session volume of 1,516,242 shares. The stock had previously closed at $4.46.

Wall Street Analyst Weigh In

Several research firms have commented on APLT. 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 Thursday, April 11th. UBS Group increased their price target on shares of Applied Therapeutics from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $11.00.

Applied Therapeutics Price Performance

The company’s fifty day moving average is $4.49 and its two-hundred day moving average is $4.45.

Applied Therapeutics (NASDAQ:APLT) last issued 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 company had revenue of $0.19 million for the quarter, compared to the consensus estimate of $10.00 million. Analysts expect that Applied Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $25,281,374.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Applied Therapeutics news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total value of $631,500.00. Following the transaction, the insider now owns 6,005,077 shares in the company, valued at approximately $25,281,374.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shoshana Shendelman sold 61,795 shares of Applied Therapeutics stock in a transaction on 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 owns 3,756,019 shares in the company, valued at approximately $16,226,002.08. 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 owned by company insiders.

Institutional Trading of Applied Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of APLT. Vontobel Holding Ltd. acquired a new position in Applied Therapeutics in the 4th quarter valued at about $34,000. Jump Financial LLC purchased a new stake in Applied Therapeutics in the fourth quarter valued at approximately $81,000. Citigroup Inc. purchased a new stake in shares of Applied Therapeutics during the third quarter worth approximately $164,000. Denali Advisors LLC acquired a new position in Applied Therapeutics during the first quarter worth $228,000. Finally, EntryPoint Capital LLC acquired a new stake in Applied Therapeutics in the first quarter valued at $272,000. 98.31% of the stock is currently 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.