Applied Therapeutics (NASDAQ:APLT) Lowered to “Sell” at Zacks Investment Research

Applied Therapeutics (NASDAQ:APLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, reports.

According to Zacks, “Applied Therapeutics Inc. is a clinical-stage biopharmaceutical company. It engages in developing drug candidates for unmet medical need. The company’s product candidate consists of AT-001, for the treatment of Diabetic Cardiomyopathy; AT-007, for the treatment of Galactosemia and AT-003, for the treatment of diabetic retinopathy which are in clinical stage. Applied Therapeutics Inc. is based in New York, United States. “

Shares of APLT traded up $4.39 during mid-day trading on Wednesday, reaching $24.11. The company’s stock had a trading volume of 4,718 shares, compared to its average volume of 30,863. The company has a fifty day moving average price of $15.58. Applied Therapeutics has a 1 year low of $7.95 and a 1 year high of $20.50.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings results on Wednesday, November 13th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.14). On average, equities analysts expect that Applied Therapeutics will post -3.08 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new position in Applied Therapeutics in the 3rd quarter valued at approximately $35,000. State Street Corp acquired a new stake in shares of Applied Therapeutics in the third quarter worth about $119,000. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Applied Therapeutics by 15.5% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 532,262 shares of the company’s stock worth $5,850,000 after acquiring an additional 71,282 shares in the last quarter. Emerald Advisers LLC bought a new stake in shares of Applied Therapeutics during the 3rd quarter worth about $111,000. Finally, BlackRock Inc. bought a new stake in shares of Applied Therapeutics during the 2nd quarter worth about $228,000. 13.99% of the stock is currently owned by hedge funds and other institutional investors.

Applied Therapeutics Company Profile

Applied Therapeutics, Inc, a biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-001 that is in phase II clinical trials for treating diabetic cardiomyopathy, as well as is in phase I clinical trials to treat diabetic peripheral neuropathy.

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