Short Interest in Applied Therapeutics, Inc. (NASDAQ:APLT) Expands By 11.7%

Applied Therapeutics, Inc. (NASDAQ:APLT) was the target of a significant 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 short-interest ratio is presently 4.9 days.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APLT. Citigroup reduced their price objective on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday. Leerink Partners raised their price target on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada lowered Applied Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $12.00 to $4.00 in a research note on Friday. Finally, UBS Group restated a “neutral” rating and set a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Applied Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $6.60.

Applied Therapeutics Stock Down 13.8 %

APLT opened at $1.75 on Tuesday. The stock has a market cap of $203.63 million, a P/E 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. The company has a fifty day simple moving average of $8.59 and a 200 day simple moving average of $6.45.

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.