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

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

Applied Therapeutics Price Performance

Shares of Applied Therapeutics stock opened at $0.81 on Tuesday. The company has a market capitalization of $94.25 million, a P/E ratio of -0.50 and a beta of 1.76. The business has a 50-day moving average of $5.66 and a two-hundred day moving average of $5.97. Applied Therapeutics has a 1 year low of $0.77 and a 1 year high of $10.62.

Institutional Trading of Applied Therapeutics

A number of large investors have recently bought and sold shares of APLT. Bank of New York Mellon Corp acquired a new position in shares of Applied Therapeutics in the second quarter valued at approximately $1,325,000. Principal Financial Group Inc. bought a new position in Applied Therapeutics during the 2nd quarter worth about $54,000. Rhumbline Advisers increased its holdings in Applied Therapeutics by 24,513.1% during the 2nd quarter. Rhumbline Advisers now owns 133,895 shares of the company’s stock worth $625,000 after purchasing an additional 133,351 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Applied Therapeutics in the second quarter valued at about $54,000. Finally, Sei Investments Co. acquired a new position in shares of Applied Therapeutics during the second quarter worth about $535,000. 98.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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