Applied Therapeutics (NASDAQ:APLT) Trading Up 4.2%

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price shot up 4.2% during trading on Tuesday . The company traded as high as $5.29 and last traded at $5.27. 254,907 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,004,601 shares. The stock had previously closed at $5.06.

Analysts Set New Price Targets

A number of brokerages recently commented on APLT. Leerink Partnrs reissued an “outperform” rating on shares of Applied Therapeutics in a research note on Thursday, February 22nd. Citigroup boosted their price objective on shares of Applied Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. UBS Group boosted their price objective on shares of Applied Therapeutics from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a research note on Thursday, April 11th. Finally, SVB Leerink assumed coverage on shares of Applied Therapeutics in a research note on Thursday, February 22nd. They issued an “outperform” rating and a $12.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $11.60.

Applied Therapeutics Trading Up 3.5 %

The business has a 50-day moving average price of $5.71 and a 200-day moving average price of $3.68.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The firm had revenue of ($0.67) million during the quarter. Equities research analysts anticipate that Applied Therapeutics, Inc. will post -0.53 EPS for the current year.

Insider Activity at Applied Therapeutics

In related news, insider Riccardo Perfetti sold 110,804 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total value of $597,233.56. Following the transaction, the insider now directly owns 1,031,537 shares of the company’s stock, valued at approximately $5,559,984.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Riccardo Perfetti sold 110,804 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total value of $597,233.56. Following the transaction, the insider now directly owns 1,031,537 shares of the company’s stock, valued at approximately $5,559,984.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Leslie D. Funtleyder sold 28,727 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $154,838.53. Following the completion of the transaction, the chief financial officer now directly owns 308,421 shares in the company, valued at $1,662,389.19. The disclosure for this sale can be found here. Insiders have sold a total of 458,104 shares of company stock valued at $2,469,181 in the last ninety days. Company insiders own 19.10% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in Applied Therapeutics in the first quarter valued at $70,000. BlackRock Inc. boosted its holdings in Applied Therapeutics by 5.0% in the first quarter. BlackRock Inc. now owns 1,363,403 shares of the company’s stock valued at $2,876,000 after purchasing an additional 64,872 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Applied Therapeutics by 1,503.4% in the first quarter. Renaissance Technologies LLC now owns 282,200 shares of the company’s stock valued at $595,000 after purchasing an additional 264,600 shares during the last quarter. State Street Corp boosted its holdings in Applied Therapeutics by 24.8% in the first quarter. State Street Corp now owns 426,404 shares of the company’s stock valued at $900,000 after purchasing an additional 84,753 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Applied Therapeutics by 25.4% in the first quarter. Goldman Sachs Group Inc. now owns 94,664 shares of the company’s stock valued at $200,000 after purchasing an additional 19,159 shares during the last quarter. 98.31% of the stock is owned by institutional investors and hedge funds.

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.