Stock Traders Purchase High Volume of Call Options on Applied Therapeutics (NASDAQ:APLT)

Applied Therapeutics, Inc. (NASDAQ:APLT) was the recipient of unusually large options trading on Wednesday. Traders purchased 10,681 call options on the company. This represents an increase of 2,011% compared to the typical volume of 506 call options.

Analyst Ratings Changes

Several analysts have issued reports on the company. William Blair raised Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 target price on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Leerink Partners boosted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Citigroup upped their price objective on Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a buy rating and one has assigned 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 $12.50.

Insider Transactions 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 value of $709,174.63. Following the completion of the sale, the chief executive officer now owns 4,690,839 shares in the company, valued at approximately $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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jump Financial LLC purchased a new position in Applied Therapeutics in the 4th quarter valued at $81,000. AIGH Capital Management LLC lifted its holdings in Applied Therapeutics by 109.1% in the 4th quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock valued at $5,558,000 after purchasing an additional 865,689 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Applied Therapeutics in the 4th quarter worth $13,919,000. Opaleye Management Inc. increased its stake in shares of Applied Therapeutics by 22.3% in the 4th quarter. Opaleye Management Inc. now owns 1,092,500 shares of the company’s stock worth $3,660,000 after acquiring an additional 199,500 shares during the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Applied Therapeutics in the 1st quarter worth $228,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Price Performance

Shares of NASDAQ:APLT opened at $8.00 on Friday. Applied Therapeutics has a 1 year low of $1.79 and a 1 year high of $9.39. The firm has a market capitalization of $914.14 million, a price-to-earnings ratio of -4.35 and a beta of 2.03. The business’s 50 day moving average price is $5.76 and its 200-day moving average price is $5.33.

Applied Therapeutics (NASDAQ:APLT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $10.00 million. On average, sell-side analysts expect that Applied Therapeutics will post -0.48 earnings per share for the current year.

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.