Applied Therapeutics, Inc. (NASDAQ:APLT) Short Interest Up 28.0% in December

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

Analyst Upgrades and Downgrades

APLT has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a report on Friday, December 20th. William Blair cut shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, December 23rd. Citigroup decreased their price objective on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 29th. UBS Group reissued a “neutral” rating and set a $2.00 price objective (down from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Finally, Leerink Partners boosted their price objective 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.10.

Institutional Trading of Applied Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in Applied Therapeutics by 37.8% during the third quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock valued at $89,656,000 after buying an additional 2,893,323 shares during the last quarter. State Street Corp increased its holdings in Applied Therapeutics by 123.1% during the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after buying an additional 2,038,724 shares during the last quarter. Frazier Life Sciences Management L.P. increased its holdings in 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 valued at $10,676,000 after buying an additional 333,278 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Applied Therapeutics by 165.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock valued at $6,249,000 after buying an additional 457,940 shares during the last quarter. Finally, Ally Bridge Group NY LLC purchased a new stake in Applied Therapeutics during the third quarter valued at approximately $5,256,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

Applied Therapeutics Stock Down 3.8 %

APLT opened at $0.85 on Friday. The firm has a 50 day moving average price of $5.83 and a 200-day moving average price of $6.00. Applied Therapeutics has a twelve month low of $0.77 and a twelve month high of $10.62. The stock has a market capitalization of $99.29 million, a price-to-earnings ratio of -0.53 and a beta of 1.76.

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.