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

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Applied Therapeutics

Several large investors have recently modified their holdings of the business. Deltec Asset Management LLC purchased a new position in Applied Therapeutics in the fourth quarter valued at $385,000. PNC Financial Services Group Inc. acquired a new stake in Applied Therapeutics in the 3rd quarter valued at about $1,755,000. Vestal Point Capital LP boosted its stake in shares of Applied Therapeutics by 23.9% in the 3rd quarter. Vestal Point Capital LP now owns 14,250,000 shares of the company’s stock valued at $8,620,000 after buying an additional 2,750,000 shares during the period. UBS Group AG grew its holdings in Applied Therapeutics by 129.4% during the 3rd quarter. UBS Group AG now owns 1,905,625 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,074,980 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Applied Therapeutics in the 1st quarter valued at $280,000. Institutional investors and hedge funds own 98.31% of the company’s stock.

Applied Therapeutics Price Performance

Shares of APLT stock opened at $0.10 on Friday. The company has a market cap of $14.70 million, a price-to-earnings 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 stock has a 50 day simple moving average of $0.15 and a 200-day simple moving average of $0.49.

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

Applied Therapeutics Company Profile

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.