NEW YORK – Applied Therapeutics, Inc. (NASDAQ:APLT), a company specializing in pharmaceutical preparations, has reported a significant transaction by a key executive. Adam Hansard, the Chief Commercial Officer of Applied Therapeutics, recently sold 48,871 shares of company stock, with the total value of the transaction exceeding $263,000.
The shares were sold at a weighted average price of $5.39, with individual transactions occurring within a price range from $5.37 to $5.795. This sale was executed on March 14, 2024, and was disclosed in a filing with the Securities and Exchange Commission (SEC) on March 18.
According to the SEC filing, the shares sold by Hansard were primarily to cover tax withholding obligations associated with the vesting and settlement of compensatory Restricted Stock Units. This "sell to cover" transaction was necessary to satisfy the tax liability and was not a discretionary sale by Hansard.
Following the sale, Hansard remains a significant shareholder in Applied Therapeutics, retaining 732,919 shares of common stock. The transaction indicates a routine financial move by an executive to manage tax obligations related to stock compensation, a common practice in corporate governance.
Investors often monitor insider transactions as they may provide insights into the company's performance and executives' perspectives. However, it's important to note that such transactions can be motivated by a variety of personal financial considerations and do not necessarily reflect a change in company outlook.
Applied Therapeutics continues its operations in the pharmaceutical industry, with its business address located at 545 Fifth Avenue, Suite 1400, New York, NY. The company is incorporated in Delaware and operates under the trading symbol APLT on the NASDAQ exchange.
InvestingPro Insights
Applied Therapeutics, Inc. (NASDAQ:APLT) has recently seen significant insider trading activity, which can be an important indicator for investors. To provide a broader context, let's consider some real-time data and InvestingPro Tips that may offer additional insights into the company's financial health and stock performance.
InvestingPro Data:
- The company's market capitalization stands at $631.09 million, reflecting its current market valuation.
- Applied Therapeutics operates with a negative price-to-earnings (P/E) ratio of -5.27 based on the last twelve months as of Q4 2023, indicating that it is not currently profitable.
- Despite a challenging gross profit margin of -439.43% for the same period, the stock has experienced a strong return over the last three months, with a 103.38% price total return.
InvestingPro Tips:
- The stock is known to trade with high price volatility, which is evident from the recent price movements. This could be an important consideration for investors who are evaluating the risk profile of their portfolios.
- InvestingPro also highlights that analysts are not expecting the company to be profitable this year, which aligns with the negative P/E ratio and may influence investment decisions.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available which could shed light on Applied Therapeutics' financial strategy and market position. For instance, the company's short-term obligations exceeding liquid assets and its operation with a moderate level of debt are factors that might impact its financial stability.
Interested readers can explore further by visiting InvestingPro for a comprehensive set of 12 additional tips. And for those ready to take the next step, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more expert insights and data.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.