Applied Therapeutics Inc. $APLT Shares Purchased by Propel Bio Management LLC

Key Points

• Propel Bio Management LLC has increased its stake in Applied Therapeutics Inc. by 17.4%, acquiring an additional 1,670,000 shares, which makes Applied Therapeutics its 6th largest position.
• Applied Therapeutics currently has a market cap of $70.95 million and reported a loss of ($0.15) EPS in its latest quarter, exceeding analyst expectations.
• Wall Street analysts have given Applied Therapeutics an average rating of "Moderate Buy" with a price target of $6.10, despite recent downgrades to a "sell" rating from some equity analysts.

Propel Bio Management LLC increased its holdings in shares of Applied Therapeutics Inc. (NASDAQ:APLT - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,285,420 shares of the company's stock after purchasing an additional 1,670,000 shares during the quarter. Applied Therapeutics accounts for about 6.4% of Propel Bio Management LLC's investment portfolio, making the stock its 6th largest holding. Propel Bio Management LLC owned approximately 7.97% of Applied Therapeutics worth $5,517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 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 worth $25,000 after acquiring an additional 28,701 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in 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 worth $5,076,000 after acquiring an additional 4,959,670 shares during the period. HighTower Advisors LLC purchased a new position in Applied Therapeutics in the 1st quarter worth approximately $59,000. Nuveen LLC purchased a new position in shares of Applied Therapeutics during the 1st quarter valued at approximately $137,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Applied Therapeutics by 23.0% during the 1st quarter. Bank of New York Mellon Corp now owns 316,455 shares of the company's stock valued at $155,000 after buying an additional 59,178 shares during the last quarter. Institutional investors and hedge funds own 98.31% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $1.50 target price on shares of Applied Therapeutics in a research note on Wednesday, May 14th. Wall Street Zen upgraded Applied Therapeutics to a "sell" rating in a research note on Saturday, July 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Applied Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $6.10.

Applied Therapeutics Stock Performance

Shares of NASDAQ:APLT traded up $0.01 during midday trading on Friday, reaching $0.47. The company had a trading volume of 314,894 shares, compared to its average volume of 2,504,460. Applied Therapeutics Inc. has a 1-year low of $0.30 and a 1-year high of $10.62. The firm has a market cap of $68.12 million, a price-to-earnings ratio of -1.06 and a beta of 2.06. The company has a fifty day simple moving average of $0.45 and a two-hundred day simple moving average of $0.44.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02. Analysts expect that Applied Therapeutics Inc. will post -0.65 EPS 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.