Applied Therapeutics (NASDAQ:APLT) Shares Down 6.9%

Applied Therapeutics, Inc. (NASDAQ:APLT) was down 6.9% during trading on Tuesday . The stock traded as low as $5.36 and last traded at $5.36. Approximately 273,596 shares traded hands during trading, a decline of 81% from the average daily volume of 1,444,879 shares. The stock had previously closed at $5.76.

Analyst Upgrades and Downgrades

APLT has been the subject of a number of research analyst reports. 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 Wednesday, July 17th. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Citigroup boosted their price target on shares of Applied Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $11.25.

Applied Therapeutics Trading Down 9.7 %

The stock has a market capitalization of $597.22 million, a price-to-earnings ratio of -2.98 and a beta of 2.03. The company’s 50 day moving average is $5.62 and its 200 day moving average is $5.35.

Applied Therapeutics (NASDAQ:APLT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $10.00 million. Analysts anticipate that Applied Therapeutics, Inc. will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Shoshana Shendelman sold 119,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the sale, the chief executive officer now owns 4,690,839 shares in the company, valued at $27,816,675.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Therapeutics

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at about $54,000. Victory Capital Management Inc. bought a new stake in shares of Applied Therapeutics during the 2nd quarter worth $54,000. Jump Financial LLC purchased a new position in shares of Applied Therapeutics in the fourth quarter worth approximately $81,000. SG Americas Securities LLC purchased a new stake in shares of Applied Therapeutics in the second quarter valued at $87,000. Finally, Algert Global LLC purchased a new position in Applied Therapeutics during the 2nd quarter valued at about $110,000. Institutional investors and hedge funds 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.