Applied Therapeutics, Inc. (NASDAQ:APLT) Short Interest Up 11.7% in November

Applied Therapeutics, Inc. (NASDAQ:APLT) was the recipient of a significant growth in short interest during the month of 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 daily volume of 2,750,000 shares, the days-to-cover ratio is presently 4.9 days.

Applied Therapeutics Price Performance

APLT opened at $1.69 on Wednesday. The firm has a market capitalization of $196.65 million, a price-to-earnings ratio of -1.05 and a beta of 1.76. The company’s 50 day simple moving average is $8.46 and its two-hundred day simple moving average is $6.43. Applied Therapeutics has a 1-year low of $1.67 and a 1-year high of $10.62.

Wall Street Analyst Weigh In

APLT has been the topic of several research reports. Robert W. Baird reduced their target price on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. UBS Group reissued 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. Royal Bank of Canada lowered Applied Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $12.00 to $4.00 in a report on Friday, November 29th. 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. Finally, Citigroup cut their target price on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.60.

Institutional Trading of Applied Therapeutics

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Applied Therapeutics in the second quarter valued at about $87,000. Hennion & Walsh Asset Management Inc. purchased a new position in Applied Therapeutics during the second quarter worth approximately $920,000. Bank of New York Mellon Corp acquired a new stake in shares of Applied Therapeutics in the second quarter worth $1,325,000. Principal Financial Group Inc. acquired a new stake in Applied Therapeutics during the 2nd quarter valued at $54,000. Finally, Peregrine Capital Management LLC acquired a new position in Applied Therapeutics during the 2nd quarter worth $3,414,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

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.