Applied Therapeutics Sees Unusually Large Options Volume (NASDAQ:APLT)

Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) saw unusually large options trading activity on Friday. Traders purchased 34,641 put options on the stock. This represents an increase of approximately 968% compared to the average volume of 3,244 put options.

Applied Therapeutics Price Performance

Shares of APLT traded down $6.54 during mid-day trading on Friday, reaching $2.03. The company had a trading volume of 43,901,180 shares, compared to its average volume of 2,081,519. The company's 50-day moving average is $8.71 and its 200-day moving average is $6.45. The company has a market capitalization of $236.20 million, a P/E ratio of -1.26 and a beta of 2.01. Applied Therapeutics has a twelve month low of $1.85 and a twelve month high of $10.62.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APLT. Victory Capital Management Inc. acquired a new position in Applied Therapeutics in the second quarter worth $54,000. Principal Financial Group Inc. acquired a new position in Applied Therapeutics during the 2nd quarter worth about $54,000. Y Intercept Hong Kong Ltd bought a new stake in Applied Therapeutics during the 3rd quarter worth about $149,000. SG Americas Securities LLC bought a new position in shares of Applied Therapeutics in the second quarter worth about $87,000. Finally, Intech Investment Management LLC acquired a new position in shares of Applied Therapeutics during the third quarter worth approximately $162,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APLT. William Blair upgraded shares of Applied Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. Robert W. Baird reduced their price objective on Applied Therapeutics from $14.00 to $5.00 and set an "outperform" rating for the company in a research report on Friday. Leerink Partners lifted 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. Royal Bank of Canada lowered Applied Therapeutics from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $12.00 to $4.00 in a research note on Friday. Finally, Citigroup decreased their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a "buy" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $8.80.

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.