Applied Therapeutics (NASDAQ:APLT) Trading Down 9.7%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s share price dropped 9.7% during trading on Monday . The stock traded as low as $5.61 and last traded at $5.61. Approximately 580,184 shares were traded during trading, a decline of 61% from the average daily volume of 1,497,955 shares. The stock had previously closed at $6.21.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APLT. William Blair began coverage on Applied Therapeutics in a research report on Wednesday, July 31st. They issued an “outperform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $11.00.

Applied Therapeutics Trading Down 6.1 %

The firm has a market capitalization of $666.18 million, a P/E ratio of -3.16 and a beta of 1.99. The business has a 50 day moving average of $5.08 and a 200-day moving average of $5.00.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The company had revenue of $0.19 million for the quarter, compared to analyst estimates of $10.00 million. On average, analysts anticipate that Applied Therapeutics, Inc. will post -0.59 EPS for the current fiscal year.

Insider Activity

In related news, CFO Leslie D. Funtleyder sold 16,980 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 $73,353.60. Following the sale, the chief financial officer now owns 291,441 shares of the company’s stock, valued at approximately $1,259,025.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Riccardo Perfetti sold 22,003 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $95,052.96. Following the completion of the transaction, the insider now directly owns 1,009,534 shares of the company’s stock, valued at $4,361,186.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Leslie D. Funtleyder sold 16,980 shares of the company’s 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 $73,353.60. Following the sale, the chief financial officer now owns 291,441 shares in the company, valued at approximately $1,259,025.12. The disclosure for this sale can be found here. Insiders have sold a total of 250,778 shares of company stock worth $1,066,861 over the last three months. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. bought a new position in shares of Applied Therapeutics in the 4th quarter valued at about $34,000. Victory Capital Management Inc. bought a new position in Applied Therapeutics during the second quarter worth about $54,000. Principal Financial Group Inc. acquired a new position in Applied Therapeutics during the second quarter worth approximately $54,000. SG Americas Securities LLC bought a new stake in Applied Therapeutics in the second quarter valued at approximately $87,000. Finally, Jump Financial LLC acquired a new stake in shares of Applied Therapeutics in the fourth quarter valued at approximately $81,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.