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

Applied Therapeutics, Inc. (NASDAQ:APLT) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 5,750,000 shares, an increase of 34.3% from the May 31st total of 4,280,000 shares. Based on an average daily volume of 834,000 shares, the short-interest ratio is presently 6.9 days.

Applied Therapeutics Stock Performance

Shares of Applied Therapeutics stock opened at $4.67 on Monday. The business’s 50 day moving average price is $4.49 and its 200 day moving average price is $4.47. The company has a market cap of $533.63 million, a price-to-earnings ratio of -2.54 and a beta of 1.88. Applied Therapeutics has a one year low of $1.18 and a one year high of $9.39.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $0.19 million during the quarter, compared to analyst estimates of $10.00 million. On average, analysts predict that Applied Therapeutics will post -0.59 EPS for the current fiscal year.

Insider Activity at Applied Therapeutics

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 61,795 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $266,954.40. Following the transaction, the chief executive officer now owns 3,756,019 shares in the company, valued at $16,226,002.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Shoshana Shendelman sold 61,795 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.32, for a total transaction of $266,954.40. Following the completion of the transaction, the chief executive officer now owns 3,756,019 shares in the company, valued at approximately $16,226,002.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Leslie D. Funtleyder sold 16,980 shares of Applied Therapeutics stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $73,353.60. Following the completion of the sale, the chief financial officer now owns 291,441 shares in the company, valued at $1,259,025.12. The disclosure for this sale can be found here. Insiders sold a total of 250,778 shares of company stock worth $1,066,861 in the last three months. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors have recently bought and sold shares of APLT. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Applied Therapeutics during the 3rd quarter worth approximately $1,139,000. Armistice Capital LLC acquired a new stake in Applied Therapeutics during the third quarter worth $8,466,000. Rock Springs Capital Management LP raised its position in Applied Therapeutics by 3.6% in the third quarter. Rock Springs Capital Management LP now owns 808,809 shares of the company’s stock valued at $2,014,000 after purchasing an additional 28,018 shares during the period. Worth Venture Partners LLC acquired a new position in shares of Applied Therapeutics in the 3rd quarter valued at $483,000. Finally, Citigroup Inc. purchased a new position in shares of Applied Therapeutics during the 3rd quarter worth $164,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a research note on Thursday, April 11th. UBS Group increased their target price on shares of Applied Therapeutics from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.00.

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.