Applied Therapeutics Sees Unusually High Options Volume (NASDAQ:APLT)

Applied Therapeutics, Inc. (NASDAQ:APLT) was the recipient of unusually large options trading activity on Friday. Traders acquired 34,641 put options on the stock. This represents an increase of approximately 968% compared to the typical volume of 3,244 put options.

Analysts Set New Price Targets

APLT has been the topic of a number of recent research reports. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Royal Bank of Canada cut Applied Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $12.00 to $4.00 in a report on Friday. Robert W. Baird dropped their price objective on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a report on Friday. Leerink Partners raised their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, Citigroup dropped their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $8.80.

Applied Therapeutics Trading Down 76.3 %

Shares of APLT opened at $2.03 on Friday. The stock has a market cap of $236.20 million, a P/E ratio of -1.26 and a beta of 2.01. Applied Therapeutics has a 1 year low of $1.85 and a 1 year high of $10.62. The stock’s 50-day moving average price is $8.71 and its two-hundred day moving average price is $6.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in Applied Therapeutics by 37.8% in the third quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock valued at $89,656,000 after purchasing an additional 2,893,323 shares in the last quarter. State Street Corp increased its position in shares of Applied Therapeutics by 123.1% in the 3rd quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after buying an additional 2,038,724 shares in the last quarter. Frazier Life Sciences Management L.P. raised its stake in Applied Therapeutics by 17.1% during the 2nd 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 period. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 457,940 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in Applied Therapeutics during the second quarter worth about $3,414,000. Institutional investors own 98.31% of the company’s stock.

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.