Applied Therapeutics, Inc. (NASDAQ:APLT) Short Interest Up 5.6% in January

Applied Therapeutics, Inc. (NASDAQ:APLT) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 19,160,000 shares, a growth of 5.6% from the December 31st total of 18,150,000 shares. Based on an average trading volume of 5,880,000 shares, the short-interest ratio is presently 3.3 days.

Institutional Investors Weigh In On Applied Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APLT. Janus Henderson Group PLC lifted its holdings in shares of Applied Therapeutics by 37.8% during the 3rd 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 raised its position 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 acquiring an additional 2,038,724 shares in the last quarter. Ally Bridge Group NY LLC acquired a new stake in Applied Therapeutics in the third quarter valued at approximately $5,256,000. Charles Schwab Investment Management Inc. grew its position in Applied Therapeutics by 165.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after acquiring an additional 457,940 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Applied Therapeutics during the 3rd quarter worth $1,717,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Price Performance

NASDAQ APLT opened at $0.56 on Wednesday. The firm has a market capitalization of $65.20 million, a price-to-earnings ratio of -0.35 and a beta of 1.88. The company has a 50 day simple moving average of $1.41 and a 200-day simple moving average of $5.24. Applied Therapeutics has a 52-week low of $0.54 and a 52-week high of $10.62.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Robert W. Baird dropped their price target on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. 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 report on Monday, December 2nd. Royal Bank of Canada cut their price target on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a report on Friday, December 20th. 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 research note on Friday, November 29th. Finally, William Blair downgraded shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, December 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.10.

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.