Applied Therapeutics (NASDAQ:APLT) Sets New 1-Year High - What's Next?

Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $10.20 and last traded at $10.20, with a volume of 5947 shares. The stock had previously closed at $10.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Leerink Partners increased their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. Royal Bank of Canada reissued an "outperform" rating and set a $12.00 price objective on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Citigroup boosted their target price on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Finally, William Blair upgraded Applied Therapeutics to a "strong-buy" rating in a report on Friday, August 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $12.50.

Applied Therapeutics Stock Performance

The firm has a 50-day simple moving average of $7.84 and a 200 day simple moving average of $6.01.

Insider Activity at Applied Therapeutics

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 119,591 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $5.93, for a total transaction of $709,174.63. Following the completion of the sale, the chief executive officer now directly owns 4,690,839 shares of the company's stock, valued at approximately $27,816,675.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in APLT. Victory Capital Management Inc. acquired a new stake in shares of Applied Therapeutics in the second quarter valued at about $54,000. Principal Financial Group Inc. purchased a new position in shares of Applied Therapeutics in the 2nd quarter worth about $54,000. SG Americas Securities LLC purchased a new position in Applied Therapeutics in the second quarter valued at approximately $87,000. Intech Investment Management LLC purchased a new position in shares of Applied Therapeutics in the 3rd quarter valued at $162,000. Finally, Algert Global LLC purchased a new position in Applied Therapeutics in the second quarter valued at about $110,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.