Applied Therapeutics (NASDAQ:APLT) Trading Down 8.5% – Time to Sell?

Applied Therapeutics, Inc. (NASDAQ:APLT) was down 8.5% during trading on Wednesday . The company traded as low as $9.31 and last traded at $9.34. Approximately 1,670,885 shares changed hands during trading, a decline of 9% from the average daily volume of 1,839,452 shares. The stock had previously closed at $10.21.

Wall Street Analyst Weigh In

APLT has been the subject of several recent research reports. Citigroup lifted 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. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Royal Bank of Canada cut Applied Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $12.00 to $4.00 in a research report on Friday. Finally, Leerink Partners increased their price target on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Therapeutics has a consensus rating of “Buy” and a consensus target price of $10.50.

Applied Therapeutics Stock Performance

The business’s 50 day moving average price is $8.82 and its 200 day moving average price is $6.45.

Institutional Investors Weigh In On Applied Therapeutics

Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new position in shares of Applied Therapeutics during 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 purchased a new position in Applied Therapeutics during the 3rd quarter valued at about $149,000. SG Americas Securities LLC acquired a new position in Applied Therapeutics in the 2nd quarter valued at about $87,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Applied Therapeutics during the third quarter worth about $162,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

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.