Short Interest in Applied Therapeutics, Inc. (NASDAQ:APLT) Grows By 5.6%

Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) 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 daily volume of 5,880,000 shares, the short-interest ratio is currently 3.3 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APLT. William Blair cut Applied Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, December 23rd. UBS Group reiterated a "neutral" rating and issued a $2.00 price objective (down previously from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Citigroup dropped their price objective 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. Robert W. Baird decreased their target price on shares of Applied Therapeutics from $14.00 to $5.00 and set an "outperform" rating on the stock in a research note on Friday, November 29th. Finally, Royal Bank of Canada dropped their price target on shares of Applied Therapeutics from $4.00 to $1.50 and set a "sector perform" rating for the company in a research report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.10.

Institutional Trading of Applied Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of APLT. Janus Henderson Group PLC lifted its position 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 period. State Street Corp lifted its position in Applied Therapeutics by 123.1% during the 3rd 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 during the period. Frazier Life Sciences Management L.P. lifted its position in Applied Therapeutics by 17.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company's stock valued at $10,676,000 after acquiring an additional 333,278 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 worth $6,249,000 after acquiring an additional 457,940 shares in the last quarter. Finally, Ally Bridge Group NY LLC purchased a new stake in Applied Therapeutics in the third quarter worth about $5,256,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Applied Therapeutics Price Performance

Applied Therapeutics stock traded up $0.03 during mid-day trading on Monday, reaching $0.65. 8,517,643 shares of the company traded hands, compared to its average volume of 6,011,855. Applied Therapeutics has a 52-week low of $0.60 and a 52-week high of $10.62. The firm has a market capitalization of $75.98 million, a price-to-earnings ratio of -0.41 and a beta of 1.83. The firm's 50 day moving average price is $3.13 and its 200 day moving average price is $5.57.

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.