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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on APLT shares. Citigroup decreased their price objective on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 29th. Royal Bank of Canada decreased their price target on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research note on Friday, December 20th. Leerink Partners upped 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. UBS Group reissued a “neutral” rating and issued a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd. Finally, William Blair lowered shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $6.10.

Applied Therapeutics Trading Down 5.1 %

Shares of NASDAQ APLT 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. Applied Therapeutics has a 12 month low of $0.77 and a 12 month high of $10.62. The stock has a 50 day moving average of $5.66 and a 200-day moving average of $5.97.

Hedge Funds Weigh In On Applied Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in shares of Applied Therapeutics during the 2nd quarter worth about $54,000. Principal Financial Group Inc. bought a new position in Applied Therapeutics in the 2nd quarter valued at about $54,000. Y Intercept Hong Kong Ltd acquired a new stake in Applied Therapeutics during the third quarter worth approximately $149,000. Intech Investment Management LLC acquired a new stake in Applied Therapeutics during the third quarter worth approximately $162,000. Finally, Algert Global LLC bought a new stake in shares of Applied Therapeutics during the second quarter worth approximately $110,000. 98.31% of the stock is owned by institutional investors.

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.