Applied Therapeutics, Inc. (NASDAQ:APLT) Short Interest Up 17.6% in October

Applied Therapeutics, Inc. (NASDAQ:APLT) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 14,530,000 shares, an increase of 17.6% from the September 30th total of 12,360,000 shares. Based on an average daily volume of 2,510,000 shares, the short-interest ratio is presently 5.8 days.

Insider Buying and Selling

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 119,591 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $5.93, for a total transaction of $709,174.63. Following the completion of the transaction, the chief executive officer now owns 4,690,839 shares in the company, valued at $27,816,675.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in APLT. Janus Henderson Group PLC grew its stake in Applied Therapeutics by 198.6% in the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock valued at $43,555,000 after purchasing an additional 4,266,179 shares during the last quarter. Propel Bio Management LLC grew its position in shares of Applied Therapeutics by 13.7% in the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock worth $41,561,000 after buying an additional 736,924 shares during the last quarter. Knoll Capital Management LLC grew its position in shares of Applied Therapeutics by 1.8% in the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock worth $37,908,000 after buying an additional 100,000 shares during the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of Applied Therapeutics by 17.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after acquiring an additional 333,278 shares in the last quarter. Finally, StemPoint Capital LP lifted its position in Applied Therapeutics by 122.3% during the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock valued at $13,716,000 after acquiring an additional 1,109,864 shares during the last quarter. 98.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on APLT shares. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Citigroup lifted their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Leerink Partners increased 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. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $12.50.

Applied Therapeutics Stock Performance

NASDAQ:APLT opened at $8.75 on Wednesday. The firm has a 50-day simple moving average of $7.30 and a 200-day simple moving average of $5.75. Applied Therapeutics has a one year low of $1.79 and a one year high of $9.39. The firm has a market cap of $999.84 million, a P/E ratio of -4.76 and a beta of 2.04.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $10.00 million. On average, research analysts predict that Applied Therapeutics will post -0.48 EPS for the current fiscal year.

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.