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NEW YORK—Riccardo Perfetti, the Chief Medical (TASE:PMCN) Officer of Applied Therapeutics, Inc. (NASDAQ:APLT), has recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Perfetti sold 86,078 shares of common stock on February 6, 2025, at a price of $0.61 per share, totaling approximately $52,507. The transaction comes as the stock has declined about 77% over the past year, according to InvestingPro data.
The transaction was conducted to cover tax withholding obligations related to the vesting and settlement of compensatory Restricted Stock Units. This sale was not a discretionary transaction by Perfetti but rather a "sell to cover" arrangement. Following the transaction, Perfetti retains ownership of 900,775 shares in the company. Analyst price targets for the stock currently range from $1.50 to $13.00, as reported by InvestingPro.
Applied Therapeutics is a biopharmaceutical company focused on developing therapies for diseases with high unmet medical needs. The company is based in New York and currently has a market capitalization of approximately $71 million. InvestingPro analysis indicates the company maintains a FAIR financial health score, with 14 additional key insights available to subscribers.
In other recent news, Applied Digital Corporation exceeded fiscal second quarter forecasts, with both revenue and adjusted earnings surpassing analyst expectations. The company’s adjusted earnings per share for the quarter landed at -$0.06, beating the analyst consensus of -$0.14. Revenue was reported at $63.9 million, a 51% increase year-over-year, slightly above the estimated $63.39 million.
Significant growth was observed in Applied Digital’s Cloud Services segment, with revenue surging 523% year-over-year to $27.7 million. The company’s Data Center Hosting business also performed well, generating $36.2 million in revenue for the quarter. Despite a reported net loss of $138.7 million for the quarter, adjusted EBITDA rose 93% year-over-year to $21.4 million.
In addition to the earnings report, Applied Digital revealed a $5 billion perpetual preferred equity financing facility with Macquarie Asset Management for its high-performance computing business. This agreement is aimed at positioning Applied Digital as a leading HPC data center operator in the United States. While the company did not provide specific financial guidance, it expressed confidence in its ability to capitalize on the growing demand for power and data centers supporting AI and high-performance computing applications.
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