Applied Therapeutics, Inc. (NASDAQ:APLT) Short Interest Update

Applied Therapeutics, Inc. (NASDAQ:APLT) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 13,560,000 shares, an increase of 11.7% from the October 31st total of 12,140,000 shares. Based on an average daily volume of 2,750,000 shares, the short-interest ratio is currently 4.9 days.

Applied Therapeutics Trading Down 76.3 %

NASDAQ APLT opened at $2.03 on Monday. The company has a market capitalization of $236.21 million, a PE ratio of -1.26 and a beta of 2.01. The business’s 50-day moving average price is $8.71 and its 200 day moving average price is $6.46. Applied Therapeutics has a twelve month low of $1.85 and a twelve month high of $10.62.

Analyst Ratings Changes

A number of research firms recently issued reports on APLT. Leerink Partners upped their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Robert W. Baird decreased their price objective on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday. UBS Group reiterated a “neutral” rating and set a $2.00 price objective (down previously from $13.00) on shares of Applied Therapeutics in a research report on Monday. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Citigroup lowered their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.60.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds have recently modified their holdings of APLT. Janus Henderson Group PLC raised its stake in Applied Therapeutics by 37.8% during the third quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock worth $89,656,000 after purchasing an additional 2,893,323 shares during the period. State Street Corp increased its stake in Applied Therapeutics by 123.1% during the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock worth $31,404,000 after acquiring an additional 2,038,724 shares during the last quarter. Frazier Life Sciences Management L.P. raised its holdings in shares of Applied Therapeutics by 17.1% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after purchasing an additional 333,278 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Applied Therapeutics by 165.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock valued at $6,249,000 after purchasing an additional 457,940 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at about $3,414,000. 98.31% of the stock is owned by institutional investors and hedge funds.

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.