Applied Therapeutics, Inc. (NASDAQ:APLT) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Applied Therapeutics, Inc. (NASDAQ:APLT – Get Free Report) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 12,360,000 shares, a growth of 14.2% from the September 15th total of 10,820,000 shares. Based on an average daily volume of 2,390,000 shares, the days-to-cover ratio is currently 5.2 days.

Insider Transactions at Applied Therapeutics

In other news, CEO Shoshana Shendelman sold 119,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the transaction, the chief executive officer now directly owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

Several institutional investors have recently added to or reduced their stakes in APLT. Denali Advisors LLC acquired a new position in Applied Therapeutics in the first quarter valued at approximately $228,000. Propel Bio Management LLC increased its holdings in shares of Applied Therapeutics by 13.7% during the first quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock valued at $41,561,000 after acquiring an additional 736,924 shares in the last quarter. StemPoint Capital LP increased its holdings in shares of Applied Therapeutics by 122.3% during the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock valued at $13,716,000 after acquiring an additional 1,109,864 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Applied Therapeutics during the first quarter valued at approximately $272,000. Finally, Altitude Crest Partners Inc. bought a new stake in shares of Applied Therapeutics during the first quarter valued at approximately $1,766,000. 98.31% of the stock is owned by institutional investors and hedge funds.

Applied Therapeutics Stock Performance

Shares of NASDAQ:APLT traded up $0.53 during trading on Monday, reaching $9.10. The stock had a trading volume of 1,231,633 shares, compared to its average volume of 1,842,908. Applied Therapeutics has a 52 week low of $1.79 and a 52 week high of $9.39. The firm’s fifty day moving average is $6.63 and its 200 day moving average is $5.50. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -4.66 and a beta of 2.04.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partners increased their target price on 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 issued a $12.00 price objective on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Finally, Citigroup raised their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $12.50.

View Our Latest Stock Report on APLT

Applied Therapeutics Company Profile

(Get Free Report)

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.

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