Applied Therapeutics, Inc. (NASDAQ:APLT – Get Rating) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 232,800 shares, a decrease of 11.0% from the October 15th total of 261,500 shares. Based on an average daily trading volume, of 325,500 shares, the days-to-cover ratio is presently 0.7 days.
In other news, CEO Shoshana Shendelman purchased 50,000 shares of Applied Therapeutics stock in a transaction that occurred on Friday, October 14th. The stock was acquired at an average cost of $0.65 per share, for a total transaction of $32,500.00. Following the purchase, the chief executive officer now directly owns 767,495 shares of the company’s stock, valued at approximately $498,871.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Applied Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in APLT. Franklin Resources Inc. boosted its holdings in Applied Therapeutics by 199.3% in the second quarter. Franklin Resources Inc. now owns 4,775,484 shares of the company’s stock valued at $4,528,000 after acquiring an additional 3,179,934 shares during the last quarter. FMR LLC boosted its stake in shares of Applied Therapeutics by 343.6% in the 2nd quarter. FMR LLC now owns 4,007,283 shares of the company’s stock valued at $3,800,000 after purchasing an additional 3,103,990 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Applied Therapeutics by 11.2% during the second quarter. Point72 Asset Management L.P. now owns 2,835,000 shares of the company’s stock worth $2,688,000 after buying an additional 286,000 shares during the period. BlackRock Inc. increased its position in shares of Applied Therapeutics by 5.0% during the first quarter. BlackRock Inc. now owns 1,363,403 shares of the company’s stock worth $2,876,000 after buying an additional 64,872 shares during the period. Finally, State Street Corp raised its stake in Applied Therapeutics by 24.8% during the first quarter. State Street Corp now owns 426,404 shares of the company’s stock worth $900,000 after buying an additional 84,753 shares during the last quarter. Institutional investors and hedge funds own 83.74% of the company’s stock.
Applied Therapeutics Stock Down 5.0 %
Analyst Upgrades and Downgrades
A number of analysts have recently commented on APLT shares. Citigroup cut their price target on Applied Therapeutics from $29.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, August 17th. Barclays cut their target price on shares of Applied Therapeutics from $2.50 to $2.25 and set an “equal weight” rating on the stock in a research report on Tuesday, August 16th.
About Applied Therapeutics
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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