Price T Rowe Associates Inc. MD Sells 986,108 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

Price T Rowe Associates Inc. MD decreased its position in Applied Therapeutics, Inc. (NASDAQ:APLT - Free Report) by 96.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,763 shares of the company's stock after selling 986,108 shares during the period. Price T Rowe Associates Inc. MD's holdings in Applied Therapeutics were worth $30,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its position in 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 valued at $4,642,000 after buying an additional 5,213,370 shares during the period. Marshall Wace LLP raised its stake in shares of Applied Therapeutics by 144.8% during the fourth quarter. Marshall Wace LLP now owns 1,307,381 shares of the company's stock valued at $1,124,000 after acquiring an additional 773,377 shares during the last quarter. Norges Bank purchased a new stake in shares of Applied Therapeutics during the fourth quarter worth about $208,000. Rock Springs Capital Management LP grew its stake in shares of Applied Therapeutics by 9.8% in the fourth 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 during the last quarter. Finally, Aristides Capital LLC bought a new stake in shares of Applied Therapeutics in the fourth quarter worth about $134,000. Institutional investors own 98.31% of the company's stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated a "sector perform" rating and issued a $1.50 price objective on shares of Applied Therapeutics in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $6.10.

Applied Therapeutics Stock Down 13.2%

Shares of NASDAQ:APLT traded down $0.06 on Wednesday, hitting $0.38. The company had a trading volume of 3,987,856 shares, compared to its average volume of 3,339,139. The firm's 50-day simple moving average is $0.43 and its two-hundred day simple moving average is $1.79. The firm has a market capitalization of $53.50 million, a price-to-earnings ratio of -0.23 and a beta of 2.00. Applied Therapeutics, Inc. has a 1 year low of $0.30 and a 1 year high of $10.62.

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

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.