Applied Therapeutics (NASDAQ:APLT) Shares Gap Down on Insider Selling

Applied Therapeutics, Inc. (NASDAQ:APLTGet Free Report)’s share price gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $5.96, but opened at $5.70. Applied Therapeutics shares last traded at $5.53, with a volume of 152,263 shares.

Specifically, CEO Shoshana Shendelman sold 318,573 shares of the company’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 value of $1,717,108.47. Following the sale, the chief executive officer now directly owns 3,817,814 shares in the company, valued at $20,578,017.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Shoshana Shendelman sold 318,573 shares of the company’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 value of $1,717,108.47. Following the sale, the chief executive officer now directly owns 3,817,814 shares in the company, valued at $20,578,017.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Leslie D. Funtleyder sold 28,727 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total value of $154,838.53. Following the transaction, the chief financial officer now owns 308,421 shares in the company, valued at $1,662,389.19. The disclosure for this sale can be found here. Insiders have sold 458,104 shares of company stock worth $2,469,181 over the last ninety days. Insiders own 19.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Applied Therapeutics in a research report on Thursday, February 22nd. UBS Group increased their price target on Applied Therapeutics from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Citigroup increased their price target on Applied Therapeutics from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, SVB Leerink started coverage on Applied Therapeutics in a research report on Thursday, February 22nd. They issued an “outperform” rating and a $12.00 price target for the company.

Get Our Latest Report on APLT

Applied Therapeutics Stock Performance

The company has a market cap of $730.64 million, a P/E ratio of -5.11 and a beta of 1.82. The firm has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $3.13.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in APLT. VR Adviser LLC bought a new position in Applied Therapeutics in the 2nd quarter worth about $7,242,000. Vestal Point Capital LP bought a new position in Applied Therapeutics in the 4th quarter worth about $13,919,000. Armistice Capital LLC bought a new position in Applied Therapeutics in the 3rd quarter worth about $8,466,000. Franklin Resources Inc. raised its holdings in shares of Applied Therapeutics by 66.4% in the 2nd quarter. Franklin Resources Inc. now owns 7,946,732 shares of the company’s stock valued at $10,172,000 after acquiring an additional 3,171,248 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Applied Therapeutics by 343.6% in the 2nd quarter. FMR LLC now owns 4,007,283 shares of the company’s stock valued at $3,800,000 after acquiring an additional 3,103,990 shares in the last quarter. Institutional investors own 71.83% of the company’s stock.

Applied Therapeutics Company Profile

(Get Free Report)

Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel products to target central nervous system rare disease and diabetic complications in the United States. Its lead product candidate is AT-007 that has completed phase III for the treatment of galactosemia in healthy volunteers and adults, as well as is in pediatric clinical study for the treatment of galactosemia in kids; for treating sorbitol dehydrogenase deficiency; and for the treatment of phosphomannomutase enzyme-CDG.

Read More

Receive News & Ratings for Applied Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.