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

Logos Global Management LP lowered its position in shares of Applied Therapeutics, Inc. (NASDAQ:APLT - Free Report) by 55.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in shares of Applied Therapeutics during the second quarter valued at approximately $54,000. Principal Financial Group Inc. acquired a new stake in shares of Applied Therapeutics in the second quarter valued at approximately $54,000. SG Americas Securities LLC acquired a new stake in shares of Applied Therapeutics in the second quarter valued at approximately $87,000. Jump Financial LLC acquired a new stake in shares of Applied Therapeutics in the fourth quarter valued at approximately $81,000. Finally, Denali Advisors LLC acquired a new stake in shares of Applied Therapeutics in the first quarter valued at approximately $228,000. Institutional investors and hedge funds own 98.31% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Applied Therapeutics

In other news, CEO Shoshana Shendelman sold 119,591 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 4,690,839 shares in the company, valued at $27,816,675.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.60% of the company's stock.

Applied Therapeutics Trading Up 5.5 %

Applied Therapeutics stock traded up $0.43 during mid-day trading on Tuesday, hitting $8.11. The company's stock had a trading volume of 3,697,365 shares, compared to its average volume of 1,836,818. The firm has a market capitalization of $926.13 million, a PE ratio of -4.40 and a beta of 2.03. Applied Therapeutics, Inc. has a 1 year low of $1.79 and a 1 year high of $9.39. The stock's fifty day moving average is $5.89 and its two-hundred day moving average is $5.34.

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

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.