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

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

Institutional Investors Weigh In On Applied Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in shares of Applied Therapeutics by 37.8% in the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock valued at $89,656,000 after purchasing an additional 2,893,323 shares in the last quarter. State Street Corp increased its stake in shares of Applied Therapeutics by 123.1% in the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock worth $31,404,000 after buying an additional 2,038,724 shares during the last quarter. Peregrine Capital Management LLC acquired a new stake in Applied Therapeutics in the second quarter valued at $3,414,000. Ally Bridge Group NY LLC bought a new position in Applied Therapeutics during the 3rd quarter valued at $5,256,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Applied Therapeutics by 165.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after acquiring an additional 457,940 shares in the last quarter. Institutional investors and hedge funds own 98.31% of the company’s stock.

Applied Therapeutics Stock Performance

Shares of NASDAQ APLT opened at $2.03 on Monday. Applied Therapeutics has a 1 year low of $1.85 and a 1 year high of $10.62. The stock’s 50-day simple moving average is $8.71 and its 200-day simple moving average is $6.46. The firm has a market cap of $236.21 million, a price-to-earnings ratio of -1.26 and a beta of 2.01.

Analyst Ratings Changes

Several equities analysts recently weighed in on APLT shares. Royal Bank of Canada lowered shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $12.00 to $4.00 in a report on Friday. Citigroup cut their price objective on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. Leerink Partners upped their target price on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Robert W. Baird lowered their target price on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday. Finally, UBS Group reissued a “neutral” rating and set a $2.00 price target (down from $13.00) on shares of Applied Therapeutics in a research report on Monday. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.60.

Applied Therapeutics Company Profile

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.