Applied Therapeutics (NASDAQ:APLT) Trading Down 5% - What's Next?

Shares of Applied Therapeutics Inc. (NASDAQ:APLT - Get Free Report) were down 5% during mid-day trading on Thursday . The stock traded as low as $0.51 and last traded at $0.51. Approximately 726,203 shares traded hands during trading, a decline of 71% from the average daily volume of 2,507,563 shares. The stock had previously closed at $0.54.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on APLT shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $1.50 price objective on shares of Applied Therapeutics in a report on Wednesday, May 14th. Wall Street Zen raised Applied Therapeutics to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $6.10.

Applied Therapeutics Price Performance

The stock has a 50-day simple moving average of $0.39 and a 200-day simple moving average of $0.47. The stock has a market cap of $67.96 million, a PE ratio of -1.12 and a beta of 1.82.

Institutional Investors Weigh In On Applied Therapeutics

A number of institutional investors have recently added to or reduced their stakes in APLT. CreativeOne Wealth LLC grew its position in Applied Therapeutics by 132.2% during the first quarter. CreativeOne Wealth LLC now owns 50,413 shares of the company's stock valued at $25,000 after acquiring an additional 28,701 shares during the period. Ground Swell Capital LLC purchased a new stake in shares of Applied Therapeutics in the fourth quarter worth about $27,000. Toronto Dominion Bank purchased a new stake in shares of Applied Therapeutics in the fourth quarter worth about $27,000. Intech Investment Management LLC boosted its position in shares of Applied Therapeutics by 176.1% in the fourth quarter. Intech Investment Management LLC now owns 52,631 shares of the company's stock worth $45,000 after buying an additional 33,567 shares during the period. Finally, Dark Forest Capital Management LP boosted its position in shares of Applied Therapeutics by 54.5% in the fourth quarter. Dark Forest Capital Management LP now owns 53,718 shares of the company's stock worth $46,000 after buying an additional 18,949 shares during the period. Hedge funds and other institutional investors 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.