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

Applied Therapeutics Price Performance

APLT stock opened at $0.65 on Monday. The stock has a market capitalization of $75.98 million, a price-to-earnings ratio of -0.41 and a beta of 1.83. The company has a 50-day moving average of $3.32 and a two-hundred day moving average of $5.60. Applied Therapeutics has a 52-week low of $0.60 and a 52-week high of $10.62.

Analysts Set New Price Targets

Several research analysts have weighed in on APLT shares. Robert W. Baird dropped their target price on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Royal Bank of Canada decreased their price objective 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. UBS Group restated a “neutral” rating and set a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Citigroup decreased their price target on 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 Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Applied Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $6.10.

Institutional Trading of Applied Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of Applied Therapeutics by 24,513.1% during the second quarter. Rhumbline Advisers now owns 133,895 shares of the company’s stock worth $625,000 after buying an additional 133,351 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Applied Therapeutics in the 2nd quarter valued at $54,000. Sei Investments Co. acquired a new stake in Applied Therapeutics in the 2nd quarter worth $535,000. The Manufacturers Life Insurance Company bought a new position in shares of Applied Therapeutics during the 2nd quarter worth about $172,000. Finally, Frazier Life Sciences Management L.P. raised 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 valued at $10,676,000 after buying an additional 333,278 shares during the last quarter. 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.