Applied Therapeutics (NASDAQ:APLT) Stock Price Up 5.5% – What’s Next?

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price shot up 5.5% during mid-day trading on Tuesday . The company traded as high as $10.48 and last traded at $10.12. 1,403,229 shares were traded during mid-day trading, a decline of 24% from the average session volume of 1,836,035 shares. The stock had previously closed at $9.59.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APLT. Citigroup upped their target price on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a 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, Leerink Partners boosted their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $12.50.

Applied Therapeutics Trading Down 16.1 %

The business has a 50-day moving average price of $8.81 and a two-hundred day moving average price of $6.44. The stock has a market capitalization of $997.21 million, a P/E ratio of -5.32 and a beta of 2.01.

Institutional Trading of Applied Therapeutics

Institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of Applied Therapeutics by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 265,372 shares of the company’s stock valued at $2,256,000 after acquiring an additional 68,330 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Applied Therapeutics during the 2nd quarter worth $1,325,000. Frazier Life Sciences Management L.P. lifted its position in shares of Applied Therapeutics by 17.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after buying an additional 333,278 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Applied Therapeutics during the 2nd quarter worth $3,414,000. Finally, Algert Global LLC bought a new stake in shares of Applied Therapeutics during the 2nd quarter worth $110,000. 98.31% of the stock is currently owned by institutional investors.

About Applied Therapeutics

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.