Applied Therapeutics Inc. $APLT Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. significantly reduced its stake in Applied Therapeutics, selling 585,377 shares and leaving them with 316,230 shares, representing a 64.9% decrease in holdings.
• Institutional investors continue to acquire shares, with notable increases from Alyeska Investment Group and T. Rowe Price Investment Management, which raised their stakes by 14.8% and 91.5%, respectively.
• Applied Therapeutics has received mixed ratings, with one analyst recently downgrading the stock to a "sell", while others maintain a "Hold" rating, reflecting uncertainty in its market performance.

Goldman Sachs Group Inc. trimmed its holdings in shares of Applied Therapeutics Inc. (NASDAQ:APLT - Free Report) by 64.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,230 shares of the company's stock after selling 585,377 shares during the period. Goldman Sachs Group Inc. owned approximately 0.22% of Applied Therapeutics worth $155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in Applied Therapeutics during the 1st quarter valued at approximately $280,000. Alyeska Investment Group L.P. lifted its stake in Applied Therapeutics by 14.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 3,107,497 shares of the company's stock valued at $1,519,000 after acquiring an additional 400,000 shares during the period. Propel Bio Management LLC lifted its stake in shares of Applied Therapeutics by 17.4% in the 1st quarter. Propel Bio Management LLC now owns 11,285,420 shares of the company's stock valued at $5,517,000 after purchasing an additional 1,670,000 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of 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 during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Applied Therapeutics by 91.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,380,590 shares of the company's stock valued at $5,076,000 after purchasing an additional 4,959,670 shares during the period. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Applied Therapeutics to a "sell" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Applied Therapeutics has an average rating of "Hold" and an average price target of $4.13.

Applied Therapeutics Stock Performance

Shares of NASDAQ APLT opened at $0.61 on Tuesday. The firm has a market cap of $88.12 million, a PE ratio of -1.36 and a beta of 2.05. The firm has a fifty day moving average of $0.49 and a 200 day moving average of $0.43. Applied Therapeutics Inc. has a one year low of $0.30 and a one year high of $10.62.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.02. On average, equities analysts predict that Applied Therapeutics Inc. will post -0.65 EPS for the current fiscal year.

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.

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