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

Applied Therapeutics, Inc. (NASDAQ:APLT) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 12,360,000 shares, a growth of 14.2% from the September 15th total of 10,820,000 shares. Based on an average trading volume of 2,390,000 shares, the short-interest ratio is currently 5.2 days.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APLT. Leerink Partners lifted their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Citigroup lifted their price objective on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a report on Wednesday, July 17th. Finally, William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.50.

Applied Therapeutics Stock Up 2.8 %

NASDAQ APLT opened at $9.14 on Wednesday. Applied Therapeutics has a 52 week low of $1.79 and a 52 week high of $9.39. The stock has a market capitalization of $1.04 billion, a PE ratio of -4.97 and a beta of 2.04. The firm has a 50 day moving average of $6.75 and a two-hundred day moving average of $5.53.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $10.00 million. On average, equities research analysts expect that Applied Therapeutics will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Shoshana Shendelman sold 119,591 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total value of $709,174.63. Following the sale, the chief executive officer now directly owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at $54,000. Principal Financial Group Inc. acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at $54,000. SG Americas Securities LLC acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at $87,000. Algert Global LLC acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at $110,000. Finally, Denali Advisors LLC acquired a new position in shares of Applied Therapeutics in the 1st quarter valued at $228,000. Institutional investors and hedge funds own 98.31% of the company’s stock.

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.