Short Interest in Applied Therapeutics, Inc. (NASDAQ:APLT) Drops By 16.4%

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 days-to-cover ratio is presently 4.7 days.

Applied Therapeutics Price Performance

Shares of APLT opened at $8.69 on Friday. Applied Therapeutics has a one year low of $1.79 and a one year high of $10.62. The company has a market capitalization of $1.01 billion, a PE ratio of -5.40 and a beta of 2.01. The company’s fifty day moving average price is $8.19 and its 200 day moving average price is $6.16.

Institutional Trading of Applied Therapeutics

Institutional investors have recently modified their holdings of the company. Propel Bio Management LLC boosted its stake in Applied Therapeutics by 13.7% during the first quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock worth $41,561,000 after buying an additional 736,924 shares in the last quarter. StemPoint Capital LP raised its position in Applied Therapeutics by 122.3% in the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock worth $13,716,000 after purchasing an additional 1,109,864 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Applied Therapeutics during the first quarter valued at approximately $272,000. Altitude Crest Partners Inc. acquired a new position in shares of Applied Therapeutics in the 1st quarter worth approximately $1,766,000. Finally, Knoll Capital Management LLC lifted its position in shares of Applied Therapeutics by 1.8% during the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock worth $37,908,000 after buying an additional 100,000 shares during the period. Institutional investors and hedge funds own 98.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Citigroup boosted their target price 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. Finally, Leerink Partners raised 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.50.

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.