Logos Global Management LP Lowers Stock Holdings in Applied Therapeutics, Inc. (NASDAQ:APLT)

Logos Global Management LP reduced its position in Applied Therapeutics, Inc. (NASDAQ:APLT) by 55.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,000 shares of the company’s stock after selling 750,000 shares during the quarter. Logos Global Management LP owned approximately 0.53% of Applied Therapeutics worth $2,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of APLT. Victory Capital Management Inc. acquired a new stake in shares of Applied Therapeutics in the second quarter valued at $54,000. Principal Financial Group Inc. acquired a new stake in Applied Therapeutics in the 2nd quarter valued at about $54,000. SG Americas Securities LLC purchased a new position in shares of Applied Therapeutics in the 2nd quarter valued at about $87,000. Algert Global LLC purchased a new position in shares of Applied Therapeutics in the 2nd quarter valued at about $110,000. Finally, Denali Advisors LLC acquired a new position in shares of Applied Therapeutics during the first quarter worth about $228,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Applied Therapeutics Stock Up 2.8 %

Applied Therapeutics stock opened at $8.50 on Tuesday. The firm’s 50-day simple moving average is $6.14 and its 200 day simple moving average is $5.40. Applied Therapeutics, Inc. has a 52 week low of $1.79 and a 52 week high of $9.39. The firm has a market capitalization of $971.27 million, a PE ratio of -4.62 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The firm had revenue of $0.14 million for the quarter, compared to analyst estimates of $10.00 million. On average, research analysts expect that Applied Therapeutics, Inc. will post -0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APLT. Leerink Partners boosted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Citigroup increased their price objective on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Applied Therapeutics currently has an average rating of “Buy” and an average target price of $12.50.

Insider Transactions at Applied Therapeutics

In other news, CEO Shoshana Shendelman sold 300,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.98, for a total transaction of $1,794,000.00. Following the completion of the sale, the chief executive officer now owns 5,167,853 shares in the company, valued at approximately $30,903,760.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.60% of the company’s stock.

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.