Algert Global LLC Invests in Applied Therapeutics, Inc. (NASDAQ:APLT)

On October 12, 2024, it was reported that Algert Global LLC made a significant investment in Applied Therapeutics, Inc. (NASDAQ:APLT) during the second quarter of the year. The institutional investor acquired 23,476 shares of Applied Therapeutics, with a total value of around $110,000. This move highlights a growing interest in the biopharmaceutical sector among institutional investors.

Other major institutional investors have also increased their stakes in Applied Therapeutics. For instance, Principal Financial Group Inc. purchased shares valued at approximately $54,000, while Victory Capital Management Inc. also invested around $54,000. SG Americas Securities LLC and The Manufacturers Life Insurance Company made respective investments of about $87,000 and $172,000. Furthermore, in the first quarter, Denali Advisors LLC bought shares worth $228,000. Notably, a substantial 98.31% of Applied Therapeutics' stock is currently held by hedge funds and other institutional investors.

Insider Transactions

In related news regarding insider trading, the CEO of Applied Therapeutics, Shoshana Shendelman, sold 119,591 shares on August 14. This transaction occurred at an average price of $5.93 per share, totaling $709,174.63. After this sale, Shendelman retains a significant ownership stake of 4,690,839 shares, valued at around $27.8 million. This transaction did not notably change her overall ownership percentage. Currently, insiders hold about 8.60% of the company's stock.

Stock Performance Overview

On the trading front, shares of Applied Therapeutics were priced at $8.57 when the markets opened on Friday. The company has recorded a 50-day simple moving average of $6.58 and a two-hundred-day average of $5.51. Over the past year, the stock has fluctuated significantly, with a low of $1.79 and a high of $9.39. The current market capitalization for Applied Therapeutics stands at approximately $984.26 million, and the company has a price-to-earnings ratio of -5.36, indicating financial challenges with a beta of 2.04 suggesting it is more volatile than the broader market.

Applied Therapeutics recently released its quarterly earnings, revealing a loss of ($0.13) per share, which was more unfavorable than the analysts' consensus estimate of ($0.10). The reported revenue for the quarter was $0.14 million, substantially below expectations of $10 million. Analysts currently predict that Applied Therapeutics will report -$0.48 earnings per share for the entire fiscal year.

Analyst Ratings and Forecasts

Many Wall Street analysts have expressed their views on Applied Therapeutics. Notably, Leerink Partners increased their price target from $11.00 to $14.00, assigning an “outperform” rating. Similarly, Citigroup raised its price target from $8.00 to $11.00, marking it as a “buy.” William Blair upgraded the stock to a “strong-buy” rating, while Royal Bank of Canada reiterated its “outperform” classification with a target price of $12.00. Currently, five analysts have rated Applied Therapeutics as a “buy,” and one as a “strong buy,” contributing to a consensus rating of “Buy” and an average price target of $12.50 according to MarketBeat.com.

About Applied Therapeutics

Applied Therapeutics, Inc. is a clinical-stage biopharmaceutical firm engaged in developing innovative product candidates aimed at addressing significant unmet medical needs. The company's leading product candidate, AT-007 (also known as govorestat), is in advanced trials for treating conditions such as galactosemia and other enzyme deficiencies.

investment, stock, biopharmaceuticals