Franklin Resources Inc. Sells 929,100 Shares of Applied Therapeutics, Inc. (NASDAQ:APLT)

Franklin Resources Inc. decreased its position in Applied Therapeutics, Inc. (NASDAQ:APLTFree Report) by 11.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,017,912 shares of the company’s stock after selling 929,100 shares during the period. Franklin Resources Inc. owned about 9.09% of Applied Therapeutics worth $23,510,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Armistice Capital LLC acquired a new position in shares of Applied Therapeutics in the third quarter valued at $8,466,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Applied Therapeutics in the 3rd quarter valued at $1,139,000. Worth Venture Partners LLC bought a new position in shares of Applied Therapeutics during the 3rd quarter worth about $483,000. AIGH Capital Management LLC bought a new position in shares of Applied Therapeutics during the 3rd quarter worth about $1,975,000. Finally, EAM Investors LLC acquired a new stake in shares of Applied Therapeutics during the 3rd quarter valued at about $975,000. Institutional investors own 98.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APLT. Royal Bank of Canada restated an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a research note on Thursday, April 11th. Citigroup boosted their price target on Applied Therapeutics from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, February 16th. UBS Group increased their price objective on Applied Therapeutics from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. SVB Leerink began 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 on the stock. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Applied Therapeutics in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $11.00.

Check Out Our Latest Report on Applied Therapeutics

Insider Activity

In related news, CEO Shoshana Shendelman sold 318,573 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $1,717,108.47. Following the completion of the sale, the chief executive officer now owns 3,817,814 shares of the company’s stock, valued at $20,578,017.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Riccardo Perfetti sold 110,804 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $597,233.56. Following the transaction, 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 can be accessed through the SEC website. Also, CEO Shoshana Shendelman sold 318,573 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total transaction of $1,717,108.47. Following the sale, the chief executive officer now directly owns 3,817,814 shares of the company’s stock, valued at $20,578,017.46. The disclosure for this sale can be found here. Insiders have sold 458,104 shares of company stock valued at $2,469,181 over the last three months. 8.60% of the stock is owned by insiders.

Applied Therapeutics Stock Performance

Applied Therapeutics stock opened at $4.08 on Tuesday. The business’s fifty day moving average is $5.14 and its two-hundred day moving average is $4.08. The firm has a market cap of $466.22 million, a P/E ratio of -2.22 and a beta of 1.91. Applied Therapeutics, Inc. has a 52 week low of $1.18 and a 52 week high of $9.39.

Applied Therapeutics (NASDAQ:APLTGet Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The business had revenue of ($0.67) million for the quarter.

Applied Therapeutics Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Applied Therapeutics (NASDAQ:APLT)

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