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

Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 19,790,000 shares, a growth of 25.0% from the April 30th total of 15,830,000 shares. Currently, 18.6% of the company's shares are sold short. Based on an average daily volume of 2,330,000 shares, the days-to-cover ratio is currently 8.5 days.

Applied Therapeutics Stock Performance

Shares of APLT stock traded up $0.01 during trading hours on Friday, reaching $0.37. The company had a trading volume of 1,185,663 shares, compared to its average volume of 3,376,103. Applied Therapeutics has a twelve month low of $0.30 and a twelve month high of $10.62. The company has a market capitalization of $52.27 million, a P/E ratio of -0.23 and a beta of 2.00. The stock's fifty day simple moving average is $0.39 and its 200 day simple moving average is $1.10.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last posted its earnings results on Monday, April 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $0.61 million. As a group, equities analysts expect that Applied Therapeutics will post -0.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on APLT shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $1.50 target price on shares of Applied Therapeutics in a report on Wednesday, May 14th. Wall Street Zen upgraded Applied Therapeutics to a "sell" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6.10.

Institutional Investors Weigh In On Applied Therapeutics

Large investors have recently modified their holdings of the stock. Marshall Wace LLP grew its stake in shares of Applied Therapeutics by 144.8% in the fourth quarter. Marshall Wace LLP now owns 1,307,381 shares of the company's stock valued at $1,124,000 after buying an additional 773,377 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 buying an additional 5,213,370 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of 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 buying an additional 10,355,000 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Applied Therapeutics in the fourth quarter valued at about $35,000. Finally, Propel Bio Management LLC grew its stake in shares of 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 buying an additional 3,047,562 shares in the last quarter. Institutional investors and hedge funds own 98.31% of the company's stock.

About Applied Therapeutics

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.