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

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) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 9,780,000 shares, adecreaseof26.2% from the July 15th total of 13,250,000 shares. Currently,7.0% of the shares of the stock are sold short. Based on an average trading volume of 2,070,000 shares, the short-interest ratio is currently 4.7 days. Based on an average trading volume of 2,070,000 shares, the short-interest ratio is currently 4.7 days. Currently,7.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dark Forest Capital Management LP lifted its position in Applied Therapeutics by 54.5% during the fourth quarter. Dark Forest Capital Management LP now owns 53,718 shares of the company's stock valued at $46,000 after buying an additional 18,949 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Applied Therapeutics by 7.5% during the fourth quarter. Nuveen Asset Management LLC now owns 281,028 shares of the company's stock valued at $241,000 after buying an additional 19,608 shares in the last quarter. CreativeOne Wealth LLC lifted its position in Applied Therapeutics by 132.2% during the first quarter. CreativeOne Wealth LLC now owns 50,413 shares of the company's stock valued at $25,000 after buying an additional 28,701 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Applied Therapeutics by 0.7% during the fourth quarter. Deutsche Bank AG now owns 4,468,122 shares of the company's stock valued at $3,843,000 after purchasing an additional 30,520 shares during the period. Finally, Ground Swell Capital LLC purchased a new stake in shares of Applied Therapeutics during the fourth quarter valued at approximately $27,000. 98.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APLT has been the topic of a number of research reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $1.50 price objective on shares of Applied Therapeutics in a research note on Wednesday, May 14th. Wall Street Zen raised shares of Applied Therapeutics to a "sell" rating in a research note on Saturday, July 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $6.10.

Applied Therapeutics Stock Down 0.8%

Shares of APLT traded down $0.0040 during mid-day trading on Monday, hitting $0.5080. The company had a trading volume of 759,235 shares, compared to its average volume of 2,592,747. The business's 50-day simple moving average is $0.42 and its 200-day simple moving average is $0.44. Applied Therapeutics has a 1-year low of $0.2950 and a 1-year high of $10.6237. The stock has a market cap of $73.16 million, a PE ratio of -1.13 and a beta of 1.97.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. On average, sell-side analysts expect that Applied Therapeutics will post -0.65 earnings per share for the current 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.