Applied Therapeutics (NASDAQ:APLT) Shares Gap Down to $4.43

Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $4.43, but opened at $4.26. Applied Therapeutics shares last traded at $4.48, with a volume of 33,625 shares trading hands.

Analyst Upgrades and Downgrades

APLT has been the subject of a number of analyst reports. Citigroup lifted their target price on shares of Applied Therapeutics from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, February 16th. SVB Leerink initiated coverage on shares of Applied Therapeutics in a research note on Thursday, February 22nd. They issued an "outperform" rating and a $12.00 target price for the company. UBS Group boosted their price objective on shares of Applied Therapeutics from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, March 15th. Royal Bank of Canada restated an "outperform" rating and issued a $12.00 price objective on shares of Applied Therapeutics in a research note on Thursday, April 11th. Finally, Leerink Partnrs restated an "outperform" rating on shares of Applied Therapeutics in a research note on Thursday, February 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.00.

Applied Therapeutics Price Performance

The stock's 50 day moving average price is $5.59 and its two-hundred day moving average price is $3.93. The firm has a market capitalization of $530.20 million, a price-to-earnings ratio of -2.42 and a beta of 1.91.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.18). The firm had revenue of ($0.67) million for the quarter. As a group, equities research analysts anticipate that Applied Therapeutics, Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Applied Therapeutics news, insider Riccardo Perfetti sold 110,804 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $597,233.56. Following the sale, the insider now owns 1,031,537 shares of the company's stock, valued at approximately $5,559,984.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Leslie D. Funtleyder sold 28,727 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $154,838.53. Following the sale, the chief financial officer now owns 308,421 shares in the company, valued at approximately $1,662,389.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Riccardo Perfetti sold 110,804 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total transaction of $597,233.56. Following the completion of the sale, the insider now owns 1,031,537 shares in the company, valued at approximately $5,559,984.43. The disclosure for this sale can be found here. Insiders sold a total of 458,104 shares of company stock valued at $2,469,181 over the last ninety days. 19.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Applied Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Armistice Capital LLC acquired a new position in Applied Therapeutics during the 3rd quarter worth about $8,466,000. Schonfeld Strategic Advisors LLC acquired a new position in Applied Therapeutics during the 3rd quarter worth about $1,139,000. Worth Venture Partners LLC acquired a new position in Applied Therapeutics during the 3rd quarter worth about $483,000. AIGH Capital Management LLC acquired a new position in Applied Therapeutics during the 3rd quarter worth about $1,975,000. Finally, EAM Investors LLC acquired a new position in Applied Therapeutics during the 3rd quarter worth about $975,000. Institutional investors and hedge funds own 98.31% of the company's stock.

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.