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

Applied Therapeutics, Inc. (NASDAQ:APLT) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 12,140,000 shares, a decline of 16.4% from the October 15th total of 14,530,000 shares. Based on an average daily volume of 2,600,000 shares, the short-interest ratio is presently 4.7 days.

Analyst Upgrades and Downgrades

APLT has been the subject of a number of research reports. William Blair raised Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Citigroup lifted their target price on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Leerink Partners upped their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $12.50.

Applied Therapeutics Stock Down 3.6 %

APLT opened at $8.69 on Friday. The firm has a market cap of $1.01 billion, a PE ratio of -5.40 and a beta of 2.01. The business has a fifty day simple moving average of $8.19 and a 200-day simple moving average of $6.16. Applied Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $10.62.

Institutional Investors Weigh In On Applied Therapeutics

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new stake in Applied Therapeutics during the 2nd quarter worth about $54,000. Victory Capital Management Inc. acquired a new stake in shares of Applied Therapeutics during the second quarter valued at approximately $54,000. SG Americas Securities LLC acquired a new stake in shares of Applied Therapeutics during the second quarter valued at approximately $87,000. Algert Global LLC purchased a new stake in shares of Applied Therapeutics in the 2nd quarter valued at approximately $110,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Applied Therapeutics in the 3rd quarter worth approximately $149,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

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.