The Manufacturers Life Insurance Company Acquires 86,901 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

The Manufacturers Life Insurance Company grew its holdings in Applied Therapeutics, Inc. (NASDAQ:APLT) by 236.0% in the third quarter, Holdings Channel reports. The firm owned 123,725 shares of the company’s stock after buying an additional 86,901 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Applied Therapeutics were worth $1,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of APLT. SG Americas Securities LLC bought a new stake in shares of Applied Therapeutics in the 2nd quarter worth $87,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Applied Therapeutics in the 2nd quarter worth $920,000. Bank of New York Mellon Corp purchased a new position in shares of Applied Therapeutics in the 2nd quarter worth $1,325,000. Principal Financial Group Inc. purchased a new position in shares of Applied Therapeutics in the 2nd quarter worth $54,000. Finally, Peregrine Capital Management LLC purchased a new position in shares of Applied Therapeutics in the 2nd quarter worth $3,414,000. Institutional investors own 98.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on APLT. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research note on Thursday, November 28th. Royal Bank of Canada downgraded Applied Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $12.00 to $4.00 in a research note on Friday, November 29th. Robert W. Baird dropped their price target on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. UBS Group restated a “neutral” rating and issued a $2.00 price target (down from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd. Finally, Leerink Partners lifted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.60.

Applied Therapeutics Stock Performance

NASDAQ APLT opened at $1.24 on Thursday. The company has a market capitalization of $144.29 million, a PE ratio of -0.77 and a beta of 1.77. The business’s fifty day moving average is $7.61 and its 200 day moving average is $6.29. Applied Therapeutics, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $10.62.

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.