Applied Therapeutics (NASDAQ:APLT) Stock Price Down 3%

Applied Therapeutics, Inc. (NASDAQ:APLT) shares traded down 3% during mid-day trading on Monday . The company traded as low as $4.47 and last traded at $4.53. 82,514 shares traded hands during trading, a decline of 95% from the average session volume of 1,608,875 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Applied Therapeutics from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of Applied Therapeutics in a report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Therapeutics currently has a consensus rating of “Buy” and an average price target of $11.00.

Applied Therapeutics Price Performance

The stock has a 50 day simple moving average of $4.49 and a 200 day simple moving average of $4.47.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The business had revenue of $0.19 million during the quarter, compared to analyst estimates of $10.00 million. As a group, equities analysts predict that Applied Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Applied Therapeutics news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of Applied Therapeutics stock in a transaction that occurred 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 directly owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Riccardo Perfetti sold 22,003 shares of Applied Therapeutics stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $95,052.96. Following the sale, the insider now directly owns 1,009,534 shares in the company, valued at approximately $4,361,186.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of Applied Therapeutics stock in a transaction that occurred 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 completion of the sale, the insider now owns 6,005,077 shares in the company, valued at $25,281,374.17. The disclosure for this sale can be found here. Insiders have sold 250,778 shares of company stock valued at $1,066,861 in the last ninety days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

A number of large investors have recently made changes to their positions in APLT. Schonfeld Strategic Advisors LLC bought a new stake in shares of Applied Therapeutics in the 3rd quarter worth approximately $1,139,000. Armistice Capital LLC bought a new stake in shares of Applied Therapeutics during the third quarter valued at approximately $8,466,000. Rock Springs Capital Management LP boosted its position in shares of Applied Therapeutics by 3.6% during the third quarter. Rock Springs Capital Management LP now owns 808,809 shares of the company’s stock valued at $2,014,000 after purchasing an additional 28,018 shares in the last quarter. Worth Venture Partners LLC bought a new stake in shares of Applied Therapeutics during the third quarter valued at approximately $483,000. Finally, Citigroup Inc. bought a new stake in shares of Applied Therapeutics during the third quarter valued at approximately $164,000. 98.31% of the stock is currently owned by institutional investors.

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.