Vestal Point Capital LP Acquires 10,355,000 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

Vestal Point Capital LP grew its holdings in Applied Therapeutics, Inc. (NASDAQ:APLT - Free Report) by 904.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,500,000 shares of the company's stock after buying an additional 10,355,000 shares during the period. Vestal Point Capital LP owned approximately 9.88% of Applied Therapeutics worth $9,846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Two Sigma Investments LP purchased a new position in shares of Applied Therapeutics in the 4th quarter worth $252,000. Toronto Dominion Bank bought a new stake in shares of Applied Therapeutics in the 4th quarter worth about $27,000. Nuveen Asset Management LLC lifted its holdings in shares of Applied Therapeutics by 7.5% in the 4th quarter. Nuveen Asset Management LLC now owns 281,028 shares of the company's stock worth $241,000 after acquiring an additional 19,608 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Applied Therapeutics by 252.2% in the 4th quarter. Millennium Management LLC now owns 1,329,149 shares of the company's stock worth $1,138,000 after acquiring an additional 951,779 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Applied Therapeutics in the 4th quarter worth about $237,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APLT has been the subject of several analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $1.50 target price on shares of Applied Therapeutics in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of Applied Therapeutics to a "sell" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Applied Therapeutics currently has an average rating of "Hold" and an average target price of $6.10.

Applied Therapeutics Stock Down 0.0%

APLT traded down $0.00 on Friday, reaching $0.41. 1,900,676 shares of the company traded hands, compared to its average volume of 3,352,327. Applied Therapeutics, Inc. has a one year low of $0.30 and a one year high of $10.62. The firm has a fifty day simple moving average of $0.42 and a two-hundred day simple moving average of $1.66. The company has a market cap of $58.03 million, a P/E ratio of -0.25 and a beta of 2.00.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The company reported ($0.24) earnings per share 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. On average, equities analysts forecast that Applied Therapeutics, Inc. will post -0.65 earnings per share 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.