Applied Therapeutics (NASDAQ:APLT) Shares Up 10.4%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s share price shot up 10.4% during trading on Wednesday . The company traded as high as $5.53 and last traded at $5.50. 390,340 shares traded hands during trading, a decline of 74% from the average session volume of 1,487,689 shares. The stock had previously closed at $4.98.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APLT. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th. William Blair initiated coverage on Applied Therapeutics in a report on Wednesday. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Therapeutics has a consensus rating of “Buy” and an average target price of $11.00.

Applied Therapeutics Stock Up 19.3 %

The company has a market cap of $678.76 million, a P/E ratio of -2.91 and a beta of 1.99. The business has a fifty day moving average price of $4.78 and a 200-day moving average price of $4.80.

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

Insider Activity

In other news, CEO Shoshana Shendelman sold 61,795 shares of Applied Therapeutics stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $4.32, for a total value of $266,954.40. Following the completion of the sale, the chief executive officer now directly owns 3,756,019 shares in the company, valued at $16,226,002.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Applied Therapeutics news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’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 completion of the transaction, the insider now directly owns 6,005,077 shares in the company, valued at $25,281,374.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Shoshana Shendelman sold 61,795 shares of the company’s 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 sale, the chief executive officer now owns 3,756,019 shares of the company’s stock, valued at $16,226,002.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,778 shares of company stock worth $1,066,861. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in APLT. Vontobel Holding Ltd. bought a new stake in Applied Therapeutics during the fourth quarter worth $34,000. Principal Financial Group Inc. bought a new stake in Applied Therapeutics during the second quarter worth $54,000. Jump Financial LLC bought a new position in shares of Applied Therapeutics in the 4th quarter valued at $81,000. SG Americas Securities LLC bought a new position in shares of Applied Therapeutics in the 2nd quarter valued at $87,000. Finally, Denali Advisors LLC bought a new position in shares of Applied Therapeutics in the 1st quarter valued at $228,000. 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.