Applied Therapeutics, Inc. (NASDAQ:APLT) Sees Large Drop in Short Interest

Applied Therapeutics, Inc. (NASDAQ:APLTGet Rating) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 424,100 shares, a drop of 83.2% from the June 30th total of 2,520,000 shares. Based on an average daily volume of 407,400 shares, the short-interest ratio is presently 1.0 days.

Insiders Place Their Bets

In other news, major shareholder Real Estate Equitie Alexandria bought 3,500,000 shares of the stock in a transaction dated Monday, June 27th. The shares were acquired at an average cost of $1.00 per share, with a total value of $3,500,000.00. Following the purchase, the insider now directly owns 4,555,077 shares in the company, valued at approximately $4,555,077. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 32.60% of the stock is owned by insiders.

Institutional Trading of Applied Therapeutics

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Applied Therapeutics by 5.0% in the 1st quarter. BlackRock Inc. now owns 1,363,403 shares of the company’s stock valued at $2,876,000 after acquiring an additional 64,872 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Applied Therapeutics by 9.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,114,000 shares of the company’s stock valued at $9,970,000 after acquiring an additional 98,729 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in Applied Therapeutics by 1.7% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 631,922 shares of the company’s stock valued at $5,656,000 after acquiring an additional 10,605 shares during the last quarter. Emerald Advisers LLC raised its holdings in Applied Therapeutics by 8.1% in the 4th quarter. Emerald Advisers LLC now owns 611,525 shares of the company’s stock valued at $5,473,000 after acquiring an additional 45,797 shares during the last quarter. Finally, State Street Corp raised its holdings in Applied Therapeutics by 24.8% in the 1st quarter. State Street Corp now owns 426,404 shares of the company’s stock valued at $900,000 after acquiring an additional 84,753 shares during the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Applied Therapeutics Trading Down 1.0 %

Shares of Applied Therapeutics stock opened at $1.02 on Thursday. The firm has a market capitalization of $26.76 million, a PE ratio of -0.26 and a beta of 1.71. Applied Therapeutics has a twelve month low of $0.73 and a twelve month high of $19.14. The firm’s 50-day moving average price is $1.12 and its 200 day moving average price is $1.90.

Applied Therapeutics (NASDAQ:APLTGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.06). On average, sell-side analysts predict that Applied Therapeutics will post -3.13 EPS for the current fiscal year.

Analysts Set New Price Targets

APLT has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of Applied Therapeutics to $6.00 in a research note on Wednesday, April 13th. Citigroup lowered their target price on shares of Applied Therapeutics to $29.00 and set a “buy” rating on the stock in a research note on Friday, May 20th.

About Applied Therapeutics

(Get Rating)

Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-007 that has completed phase 1/2 for the treatment of galactosemia in healthy volunteers and adults, as well as is in pediatric clinical study for the treatment of galactosemia in kids; for treating sorbitol dehydrogenase deficiency; and for the treatment of phosphomannomutase enzyme-CDG.

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