Applied Therapeutics, Inc. (NASDAQ:APLT) Short Interest Update

Applied Therapeutics, Inc. (NASDAQ:APLT) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 13,560,000 shares, a growth of 11.7% from the October 31st total of 12,140,000 shares. Based on an average daily trading volume, of 2,750,000 shares, the days-to-cover ratio is currently 4.9 days.

Hedge Funds Weigh In On Applied Therapeutics

A number of large investors have recently modified their holdings of the stock. Ally Bridge Group NY LLC bought a new position in Applied Therapeutics in the 3rd quarter worth approximately $5,256,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Applied Therapeutics by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 265,372 shares of the company’s stock valued at $2,256,000 after buying an additional 68,330 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Applied Therapeutics in the 2nd quarter valued at $1,325,000. 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 worth $10,676,000 after acquiring an additional 333,278 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in shares of Applied Therapeutics during the second quarter valued at $3,414,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on APLT shares. Citigroup lowered their price target on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners increased their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. UBS Group restated a “neutral” rating and issued a $2.00 price target (down from $13.00) on shares of Applied Therapeutics in a research report on Monday. Finally, Robert W. Baird dropped their price objective on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a report on Friday. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.60.

Applied Therapeutics Stock Down 13.8 %

Applied Therapeutics stock opened at $1.75 on Tuesday. The stock has a 50-day simple moving average of $8.59 and a 200 day simple moving average of $6.45. The stock has a market capitalization of $203.63 million, a price-to-earnings ratio of -1.09 and a beta of 2.01. Applied Therapeutics has a 12-month low of $1.68 and a 12-month high of $10.62.

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.