T. Rowe Price Investment Management Inc. Boosts Position in Applied Therapeutics Inc. $APLT

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Applied Therapeutics by 91.5%, acquiring 4,959,670 shares during the first quarter, bringing its total holdings to approximately 10.38 million shares.
• Applied Therapeutics reported an EPS of ($0.15) for the last quarter, surpassing analyst expectations by $0.02, while analysts anticipate an annual EPS of ($0.65).
• The current market capitalization of Applied Therapeutics is approximately $73.73 million, with analysts giving it an average rating of "Moderate Buy" and a target price of $6.10.

T. Rowe Price Investment Management Inc. raised its stake in shares of Applied Therapeutics Inc. (NASDAQ:APLT - Free Report) by 91.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,380,590 shares of the company's stock after buying an additional 4,959,670 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 7.33% of Applied Therapeutics worth $5,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vestal Point Capital LP grew its holdings in shares of Applied Therapeutics by 904.4% during the fourth quarter. Vestal Point Capital LP now owns 11,500,000 shares of the company's stock worth $9,846,000 after purchasing an additional 10,355,000 shares in the last quarter. VR Adviser LLC grew its holdings in shares of Applied Therapeutics by 1.7% during the fourth quarter. VR Adviser LLC now owns 9,990,591 shares of the company's stock worth $8,554,000 after purchasing an additional 165,591 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Applied Therapeutics by 2,458.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 8,762,291 shares of the company's stock worth $7,502,000 after purchasing an additional 8,419,781 shares in the last quarter. Knoll Capital Management LLC grew its holdings in shares of Applied Therapeutics by 4.0% during the fourth quarter. Knoll Capital Management LLC now owns 5,799,687 shares of the company's stock worth $4,965,000 after purchasing an additional 225,000 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Applied Therapeutics by 0.7% during the fourth quarter. Deutsche Bank AG now owns 4,468,122 shares of the company's stock worth $3,843,000 after purchasing an additional 30,520 shares in the last quarter. Hedge funds and other institutional investors own 98.31% of the company's stock.

Applied Therapeutics Trading Down 3.4%

APLT stock traded down $0.02 during midday trading on Friday, hitting $0.49. The company had a trading volume of 307,591 shares, compared to its average volume of 2,543,003. Applied Therapeutics Inc. has a 52 week low of $0.30 and a 52 week high of $10.62. The stock's 50 day moving average price is $0.43 and its 200 day moving average price is $0.44. The stock has a market cap of $71.14 million, a price-to-earnings ratio of -1.10 and a beta of 1.97.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02. Analysts predict that Applied Therapeutics Inc. will post -0.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APLT. Royal Bank Of Canada reissued 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 upgraded Applied Therapeutics to a "sell" rating in a research report 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $6.10.

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.