Propel Bio Management LLC Acquires 3,047,562 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

Propel Bio Management LLC lifted its holdings in Applied Therapeutics, Inc. (NASDAQ:APLT - Free Report) by 46.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,615,420 shares of the company's stock after buying an additional 3,047,562 shares during the period. Applied Therapeutics comprises approximately 8.2% of Propel Bio Management LLC's portfolio, making the stock its 5th biggest position. Propel Bio Management LLC owned about 8.26% of Applied Therapeutics worth $8,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its stake in shares of Applied Therapeutics by 2,511.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,420,920 shares of the company's stock worth $4,642,000 after purchasing an additional 5,213,370 shares in the last quarter. Rock Springs Capital Management LP raised its stake in shares of Applied Therapeutics by 9.8% during the 4th quarter. Rock Springs Capital Management LP now owns 1,917,191 shares of the company's stock worth $1,641,000 after purchasing an additional 170,742 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Applied Therapeutics by 144.8% during the 4th quarter. Marshall Wace LLP now owns 1,307,381 shares of the company's stock worth $1,124,000 after purchasing an additional 773,377 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Applied Therapeutics by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 313,355 shares of the company's stock valued at $268,000 after acquiring an additional 47,983 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Applied Therapeutics in the 4th quarter valued at approximately $208,000. Hedge funds and other institutional investors own 98.31% of the company's stock.

Applied Therapeutics Price Performance

Shares of APLT stock traded down $0.01 during trading on Thursday, reaching $0.40. The company had a trading volume of 598,132 shares, compared to its average volume of 3,173,827. The firm's 50 day simple moving average is $0.45 and its two-hundred day simple moving average is $2.65. Applied Therapeutics, Inc. has a one year low of $0.30 and a one year high of $10.62. The company has a market capitalization of $57.20 million, a PE ratio of -0.25 and a beta of 1.88.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). The company had revenue of $0.00 million during the quarter, compared to analyst estimates of $0.61 million. Analysts forecast that Applied Therapeutics, Inc. will post -0.65 earnings per share for the current year.

Applied Therapeutics 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.