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

Applied Therapeutics, Inc. (NASDAQ:APLT) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 13,560,000 shares, an increase 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.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in Applied Therapeutics by 186.1% in the 3rd quarter. Barclays PLC now owns 200,012 shares of the company’s stock valued at $1,702,000 after buying an additional 130,102 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Applied Therapeutics in the 3rd quarter worth about $149,000. XTX Topco Ltd bought a new stake in shares of Applied Therapeutics during the 3rd quarter valued at about $531,000. Wellington Management Group LLP bought a new stake in shares of Applied Therapeutics during the 3rd quarter valued at about $1,717,000. Finally, State Street Corp boosted its position in shares of Applied Therapeutics by 123.1% during the 3rd quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after acquiring an additional 2,038,724 shares during the last quarter. 98.31% of the stock is currently owned by institutional investors.

Applied Therapeutics Price Performance

Applied Therapeutics stock opened at $1.69 on Wednesday. The business has a 50 day moving average of $8.46 and a 200-day moving average of $6.43. Applied Therapeutics has a 1 year low of $1.67 and a 1 year high of $10.62. The company has a market capitalization of $196.65 million, a P/E ratio of -1.05 and a beta of 1.76.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on APLT shares. Citigroup reduced 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 note on Friday, November 29th. Royal Bank of Canada cut shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $12.00 to $4.00 in a research report on Friday, November 29th. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research note on Thursday, November 28th. Robert W. Baird reduced their price objective on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. Finally, UBS Group reissued a “neutral” rating and set a $2.00 price objective (down previously from $13.00) on shares of Applied Therapeutics in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.60.

About Applied Therapeutics

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.