Short Interest in Applied Therapeutics, Inc. (NASDAQ:APLT) Expands By 28.0%

Applied Therapeutics, Inc. (NASDAQ:APLT) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 18,150,000 shares, an increase of 28.0% from the November 30th total of 14,180,000 shares. Based on an average trading volume of 5,110,000 shares, the days-to-cover ratio is presently 3.6 days.

Applied Therapeutics Price Performance

NASDAQ:APLT opened at $0.81 on Tuesday. The company has a 50 day moving average price of $5.66 and a 200-day moving average price of $5.97. Applied Therapeutics has a 1-year low of $0.77 and a 1-year high of $10.62. The firm has a market cap of $94.25 million, a price-to-earnings ratio of -0.50 and a beta of 1.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLT. Victory Capital Management Inc. acquired a new stake in shares of Applied Therapeutics during the 2nd quarter valued at about $54,000. Principal Financial Group Inc. purchased a new position in Applied Therapeutics during the second quarter worth approximately $54,000. Algert Global LLC acquired a new stake in Applied Therapeutics in the second quarter valued at approximately $110,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Applied Therapeutics in the third quarter valued at approximately $149,000. Finally, Intech Investment Management LLC acquired a new position in shares of Applied Therapeutics during the 3rd quarter worth approximately $162,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Leerink Partners increased their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Robert W. Baird cut their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Royal Bank of Canada decreased their price objective on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research note on Friday, December 20th. UBS Group reiterated a “neutral” rating and issued a $2.00 price objective (down previously from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd. Finally, Citigroup decreased their target price on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.10.

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.