Applied Therapeutics Inc. (NASDAQ:APLT) Short Interest Down 46.6% in January

Applied Therapeutics Inc. (NASDAQ:APLT) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 3,544,632 shares, a decline of 46.6% from the December 31st total of 6,633,907 shares. Based on an average daily volume of 12,289,802 shares, the days-to-cover ratio is currently 0.3 days. Currently, 2.3% of the company’s shares are short sold. Currently, 2.3% of the company’s shares are short sold. Based on an average daily volume of 12,289,802 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Applied Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of Applied Therapeutics during the first quarter worth $280,000. CreativeOne Wealth LLC increased its holdings in shares of Applied Therapeutics by 106.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 104,213 shares of the company’s stock worth $32,000 after buying an additional 53,800 shares during the last quarter. Marshall Wace LLP raised its position in Applied Therapeutics by 18.1% during the second quarter. Marshall Wace LLP now owns 1,544,191 shares of the company’s stock valued at $479,000 after purchasing an additional 236,810 shares during the period. Birchview Capital LP bought a new position in shares of Applied Therapeutics during the 2nd quarter valued at approximately $87,000. Finally, PNC Financial Services Group Inc. bought a new position in Applied Therapeutics during the third quarter valued at $1,755,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on APLT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Applied Therapeutics in a research report on Monday, December 29th. Leerink Partners cut Applied Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Robert W. Baird cut shares of Applied Therapeutics from an “outperform” rating to a “neutral” rating in a report on Friday, December 12th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Applied Therapeutics currently has a consensus rating of “Reduce” and an average price target of $1.25.

Applied Therapeutics Trading Up 2.4%

Shares of APLT opened at $0.10 on Friday. The firm has a market cap of $14.70 million, a PE ratio of -0.96 and a beta of 2.08. Applied Therapeutics has a 1-year low of $0.09 and a 1-year high of $1.50. The firm has a fifty day simple moving average of $0.15 and a two-hundred day simple moving average of $0.49.

Applied Therapeutics (NASDAQ:APLT) last announced its earnings results on Thursday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.25 million. As a group, research analysts forecast 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.