Applied Therapeutics, Inc. (NASDAQ:APLT) Sees Large Growth in Short Interest

Applied Therapeutics, Inc. (NASDAQ:APLT) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 12,360,000 shares, an increase of 14.2% from the September 15th total of 10,820,000 shares. Based on an average daily trading volume, of 2,390,000 shares, the short-interest ratio is currently 5.2 days.

Applied Therapeutics Trading Up 3.7 %

Shares of NASDAQ APLT opened at $8.89 on Tuesday. Applied Therapeutics has a 12-month low of $1.79 and a 12-month high of $9.39. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.83 and a beta of 2.04. The firm has a 50 day moving average of $6.69 and a 200 day moving average of $5.52.

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

Analyst Ratings Changes

A number of research firms have recently commented on APLT. Leerink Partners increased their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of Applied Therapeutics in a report on Wednesday, July 17th. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Citigroup boosted their target price 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. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $12.50.

Insider Activity at Applied Therapeutics

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

Institutional Trading of Applied Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC bought a new stake in Applied Therapeutics during the second quarter valued at about $110,000. Frazier Life Sciences Management L.P. grew its position in shares of Applied Therapeutics by 17.1% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after purchasing an additional 333,278 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Applied Therapeutics during the 2nd quarter valued at approximately $172,000. Sei Investments Co. purchased a new position in Applied Therapeutics in the 2nd quarter worth approximately $535,000. Finally, Victory Capital Management Inc. bought a new position in Applied Therapeutics in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

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.