Applied Therapeutics (NASDAQ:APLT) Rating Increased to Sell at Wall Street Zen

Key Points

• Applied Therapeutics (NASDAQ:APLT) has been upgraded to a "sell" rating by Wall Street Zen in a recent report.
• Royal Bank Of Canada reiterated a "sector perform" rating with a target price of $1.50 for the stock, which currently has an average rating of "Hold" and a consensus target price of $6.10.
• Notably, institutional investors hold 98.31% of Applied Therapeutics' stocks, with significant increases in stakes by several firms recently.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "sell" rating in a research report issued on Saturday.

Separately, Royal Bank Of Canada restated a "sector perform" rating and issued a $1.50 price objective on shares of Applied Therapeutics in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Applied Therapeutics presently has an average rating of "Hold" and a consensus price target of $6.10.

Applied Therapeutics Stock Performance

NASDAQ APLT traded down $0.05 during trading hours on Friday, hitting $0.44. The company had a trading volume of 940,789 shares, compared to its average volume of 1,724,318. Applied Therapeutics has a 1-year low of $0.30 and a 1-year high of $10.62. The company has a market cap of $62.66 million, a PE ratio of -1.03 and a beta of 1.82. The business has a 50 day moving average of $0.39 and a 200-day moving average of $0.46.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds have recently made changes to their positions in the business. Dark Forest Capital Management LP boosted its stake in shares of Applied Therapeutics by 54.5% during 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. Nuveen Asset Management LLC boosted its holdings in Applied Therapeutics by 7.5% in the 4th quarter. Nuveen Asset Management LLC now owns 281,028 shares of the company's stock valued at $241,000 after purchasing an additional 19,608 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Applied Therapeutics by 132.2% in the 1st quarter. CreativeOne Wealth LLC now owns 50,413 shares of the company's stock valued at $25,000 after purchasing an additional 28,701 shares in the last quarter. Deutsche Bank AG boosted its holdings in Applied Therapeutics by 0.7% in the 4th quarter. Deutsche Bank AG now owns 4,468,122 shares of the company's stock valued at $3,843,000 after purchasing an additional 30,520 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new stake in Applied Therapeutics in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 98.31% of the company's stock.

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.