Applied Therapeutics Inc. (NASDAQ:APLT) Short Interest Update

Applied Therapeutics Inc. (NASDAQ:APLT) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 6,633,907 shares, a decrease of 55.5% from the December 15th total of 14,899,711 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average trading volume of 10,418,203 shares, the short-interest ratio is currently 0.6 days. Based on an average trading volume of 10,418,203 shares, the short-interest ratio is currently 0.6 days. Currently, 4.4% of the shares of the company are sold short.

Analyst Ratings Changes

APLT has been the subject of a number of research reports. Leerink Partners restated a “market perform” rating and set a $1.00 target price (down from $2.00) on shares of Applied Therapeutics in a research report on Wednesday, December 3rd. Leerink Partnrs cut Applied Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Baird R W lowered Applied Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Robert W. Baird cut Applied Therapeutics from an “outperform” rating to a “neutral” rating in a research report on Friday, December 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Applied Therapeutics in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Applied Therapeutics has a consensus rating of “Reduce” and an average price target of $1.25.

Hedge Funds Weigh In On Applied Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Applied Therapeutics during the third quarter worth about $1,755,000. Vestal Point Capital LP boosted its holdings in Applied Therapeutics by 23.9% in the 3rd quarter. Vestal Point Capital LP now owns 14,250,000 shares of the company’s stock worth $8,620,000 after buying an additional 2,750,000 shares during the last quarter. UBS Group AG boosted its holdings in Applied Therapeutics by 129.4% in the 3rd quarter. UBS Group AG now owns 1,905,625 shares of the company’s stock worth $1,153,000 after buying an additional 1,074,980 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Applied Therapeutics during the 1st quarter worth approximately $280,000. Finally, Vanguard Group Inc. raised its holdings in shares of Applied Therapeutics by 7.8% during the third quarter. Vanguard Group Inc. now owns 5,102,689 shares of the company’s stock valued at $3,087,000 after acquiring an additional 368,676 shares during the last quarter. 98.31% of the stock is owned by hedge funds and other institutional investors.

Applied Therapeutics Trading Up 1.0%

NASDAQ APLT opened at $0.10 on Wednesday. The stock has a market capitalization of $15.50 million, a price-to-earnings ratio of -1.01 and a beta of 2.08. The stock has a 50-day moving average of $0.26 and a 200 day moving average of $0.52. Applied Therapeutics has a twelve month low of $0.09 and a twelve month high of $1.50.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.25 million. Equities analysts predict that Applied Therapeutics will post -0.65 EPS for the current fiscal year.

About Applied Therapeutics

Applied Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel small-molecule therapies for genetically defined diseases. Its research strategy centers on structure-based drug design and proprietary screening technologies aimed at correcting underlying metabolic dysfunction in disorders characterized by enzyme deficiencies and toxic metabolite accumulation.

The company’s lead investigational candidate, AT-007, is an aldose reductase inhibitor engineered to cross the blood–brain barrier and is currently in clinical development for classic galactosemia.