Franklin Resources Inc. Reduces Stock Position in Applied Therapeutics, Inc. (NASDAQ:APLT)

Franklin Resources Inc. lessened its holdings in shares of Applied Therapeutics, Inc. (NASDAQ:APLT - Free Report) by 33.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,800,910 shares of the company's stock after selling 3,412,035 shares during the quarter. Franklin Resources Inc. owned about 5.84% of Applied Therapeutics worth $60,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APLT. Janus Henderson Group PLC boosted its stake in Applied Therapeutics by 37.8% in the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company's stock worth $89,656,000 after purchasing an additional 2,893,323 shares during the period. State Street Corp boosted its position in shares of Applied Therapeutics by 123.1% in the third quarter. State Street Corp now owns 3,694,607 shares of the company's stock valued at $31,404,000 after acquiring an additional 2,038,724 shares during the period. Peregrine Capital Management LLC purchased a new position in Applied Therapeutics during the second quarter valued at approximately $3,414,000. Ally Bridge Group NY LLC bought a new stake in Applied Therapeutics during the 3rd quarter worth approximately $5,256,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Applied Therapeutics by 165.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company's stock worth $6,249,000 after purchasing an additional 457,940 shares in the last quarter. Institutional investors own 98.31% of the company's stock.

Applied Therapeutics Trading Down 4.3 %

Shares of APLT stock traded down $0.05 during trading hours on Tuesday, hitting $1.10. 4,752,640 shares of the company's stock were exchanged, compared to its average volume of 2,582,586. The company has a market capitalization of $127.99 million, a PE ratio of -0.71 and a beta of 1.76. Applied Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $10.62. The business's 50 day simple moving average is $7.21 and its 200-day simple moving average is $6.24.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. William Blair upgraded shares of Applied Therapeutics to a "strong-buy" rating in a research report on Thursday, November 28th. Royal Bank of Canada cut Applied Therapeutics from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $12.00 to $4.00 in a research report on Friday, November 29th. UBS Group reissued a "neutral" rating and set a $2.00 price objective (down previously from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Leerink Partners raised their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an "outperform" rating in a research note on Thursday, September 19th. Finally, Robert W. Baird cut their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an "outperform" rating for the company in a research note on Friday, November 29th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Applied Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $6.60.

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.