Applied Therapeutics Inc. (NASDAQ:APLT) Short Interest Down 26.2% in July

Key Points

• Applied Therapeutics Inc. saw a 26.2% decrease in short interest, dropping from 13,250,000 shares to 9,780,000 shares as of July 31st.
• The stock has an average rating of "Moderate Buy" with a consensus target price of $6.10, despite facing recent upgrades to a "sell" rating.
• Hedge funds and institutional investors own a significant 98.31% of the company's stock, indicating strong institutional interest in Applied Therapeutics.

Applied Therapeutics Inc. (NASDAQ:APLT - Get Free Report) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 9,780,000 shares, adeclineof26.2% from the July 15th total of 13,250,000 shares. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is currently 4.7 days. Currently,7.0% of the company's shares are short sold. Currently,7.0% of the company's shares are short sold. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is currently 4.7 days.

Wall Street Analysts Forecast Growth

APLT has been the topic of several analyst reports. Wall Street Zen raised shares of Applied Therapeutics to a "sell" rating in a research note on Saturday, July 26th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $1.50 target price on shares of Applied Therapeutics in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Applied Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $6.10.

Institutional Trading of Applied Therapeutics

Several large investors have recently added to or reduced their stakes in APLT. Vestal Point Capital LP boosted its holdings in Applied Therapeutics by 904.4% in the fourth quarter. Vestal Point Capital LP now owns 11,500,000 shares of the company's stock valued at $9,846,000 after acquiring an additional 10,355,000 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Applied Therapeutics by 2,458.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 8,762,291 shares of the company's stock valued at $7,502,000 after acquiring an additional 8,419,781 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Applied Therapeutics by 2,511.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,420,920 shares of the company's stock valued at $4,642,000 after acquiring an additional 5,213,370 shares in the last quarter. Propel Bio Management LLC boosted its holdings in Applied Therapeutics by 46.4% in the fourth quarter. Propel Bio Management LLC now owns 9,615,420 shares of the company's stock valued at $8,233,000 after acquiring an additional 3,047,562 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in Applied Therapeutics by 175.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,707,497 shares of the company's stock valued at $2,318,000 after acquiring an additional 1,725,824 shares in the last quarter. Institutional investors own 98.31% of the company's stock.

Applied Therapeutics Price Performance

NASDAQ:APLT traded up $0.02 during trading hours on Tuesday, hitting $0.53. The company had a trading volume of 751,187 shares, compared to its average volume of 884,307. The company has a market capitalization of $76.83 million, a PE ratio of -1.19 and a beta of 1.97. The stock has a 50-day moving average price of $0.43 and a 200 day moving average price of $0.44. Applied Therapeutics has a 52 week low of $0.30 and a 52 week high of $10.62.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02. Analysts anticipate that Applied Therapeutics will post -0.65 EPS for the current fiscal year.

Applied Therapeutics Company Profile

Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the development of a pipeline of novel product candidates against validated molecular targets in indications of high unmet medical need in the United States. The company's lead product candidate is AT-007 (also called govorestat) that has completed phase 3 for the treatment of galactosemia in healthy volunteers and adults, in pediatric clinical study for the treatment of galactosemia in kids, for treating enzyme sorbitol dehydrogenase, and for the treatment of phosphomannomutase enzyme-CDG.