Short Interest in Applied DNA Sciences, Inc. (NASDAQ:APDN) Increases By 10.3%

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 298,700 shares, a growth of 10.3% from the March 31st total of 270,800 shares. Based on an average daily volume of 150,500 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of research analysts have commented on APDN shares. HC Wainwright lowered their target price on Applied DNA Sciences from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. StockNews.com began coverage on Applied DNA Sciences in a research note on Monday. They set a “hold” rating for the company.

Applied DNA Sciences Stock Performance

APDN opened at $3.85 on Tuesday. The company has a market cap of $3.27 million, a PE ratio of -0.36 and a beta of 0.07. The stock has a 50-day moving average of $8.98 and a 200-day moving average of $12.75. Applied DNA Sciences has a 52-week low of $3.70 and a 52-week high of $37.20.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings results on Thursday, February 8th. The technology company reported ($1.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.20) by $4.40. The company had revenue of $0.89 million during the quarter, compared to the consensus estimate of $0.70 million. Applied DNA Sciences had a negative return on equity of 159.93% and a negative net margin of 80.14%. On average, research analysts predict that Applied DNA Sciences will post -12.6 earnings per share for the current year.

Hedge Funds Weigh In On Applied DNA Sciences

A hedge fund recently bought a new stake in Applied DNA Sciences stock. Silverberg Bernstein Capital Management LLC acquired a new position in shares of Applied DNA Sciences, Inc. (NASDAQ:APDN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 98,301 shares of the technology company’s stock, valued at approximately $61,000. Silverberg Bernstein Capital Management LLC owned about 0.72% of Applied DNA Sciences as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 22.22% of the company’s stock.

About Applied DNA Sciences

Applied DNA Sciences, Inc, a biotechnology company, develops and commercializes technologies to produce and detect deoxyribonucleic acid (DNA) in the Americas, Europe, Asia, and internationally. It operates through three segments: Therapeutic DNA Production Services; MDx Testing Services; and DNA Tagging and Security Products and Services.