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

Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 14,530,000 shares, an increase of 17.6% from the September 30th total of 12,360,000 shares. Based on an average daily volume of 2,510,000 shares, the short-interest ratio is presently 5.8 days.

Insider Buying and Selling

In other news, CEO Shoshana Shendelman sold 119,591 shares of the firm's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total value of $709,174.63. Following the completion of the sale, the chief executive officer now owns 4,690,839 shares in the company, valued at approximately $27,816,675.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Applied Therapeutics

A number of institutional investors have recently added to or reduced their stakes in APLT. Victory Capital Management Inc. bought a new stake in Applied Therapeutics during the 2nd quarter worth approximately $54,000. Principal Financial Group Inc. bought a new position in shares of Applied Therapeutics during the second quarter worth about $54,000. SG Americas Securities LLC bought a new stake in Applied Therapeutics during the 2nd quarter worth about $87,000. Algert Global LLC acquired a new position in Applied Therapeutics during the second quarter valued at approximately $110,000. Finally, Denali Advisors LLC acquired a new position in shares of Applied Therapeutics during the 1st quarter worth approximately $228,000. 98.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APLT has been the topic of several research reports. Leerink Partners increased their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th. William Blair raised shares of Applied Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Finally, Citigroup raised their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $12.50.

Applied Therapeutics Stock Up 2.4 %

Shares of APLT traded up $0.20 during mid-day trading on Monday, reaching $8.63. The company's stock had a trading volume of 680,808 shares, compared to its average volume of 1,829,174. The business has a fifty day moving average of $7.19 and a 200 day moving average of $5.70. The company has a market cap of $986.12 million, a price-to-earnings ratio of -4.69 and a beta of 2.04. Applied Therapeutics has a 1 year low of $1.79 and a 1 year high of $9.39.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The company had revenue of $0.14 million for the quarter, compared to analysts' expectations of $10.00 million. On average, analysts predict that Applied Therapeutics will post -0.48 earnings per share for the current year.

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.