Short Interest in Applied Therapeutics, Inc. (NASDAQ:APLT) Rises By 34.3%

Applied Therapeutics, Inc. (NASDAQ:APLT) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 5,750,000 shares, an increase of 34.3% from the May 31st total of 4,280,000 shares. Based on an average trading volume of 834,000 shares, the days-to-cover ratio is presently 6.9 days.

Applied Therapeutics Trading Up 1.5 %

NASDAQ:APLT traded up $0.07 during midday trading on Friday, reaching $4.67. The company had a trading volume of 13,783,746 shares, compared to its average volume of 968,382. The stock’s fifty day simple moving average is $4.49 and its 200-day simple moving average is $4.46. Applied Therapeutics has a 12-month low of $1.18 and a 12-month high of $9.39.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The business had revenue of $0.19 million during the quarter, compared to the consensus estimate of $10.00 million. Sell-side analysts anticipate that Applied Therapeutics will post -0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a research report on Thursday, April 11th. UBS Group lifted their target price on Applied Therapeutics from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, March 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $11.00.

Insiders Place Their Bets

In other Applied Therapeutics news, CFO Leslie D. Funtleyder sold 16,980 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $73,353.60. Following the completion of the sale, the chief financial officer now owns 291,441 shares of the company’s stock, valued at $1,259,025.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total transaction of $631,500.00. Following the completion of the transaction, the insider now directly owns 6,005,077 shares in the company, valued at $25,281,374.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Leslie D. Funtleyder sold 16,980 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $73,353.60. Following the transaction, the chief financial officer now owns 291,441 shares of the company’s stock, valued at $1,259,025.12. The disclosure for this sale can be found here. Insiders sold a total of 250,778 shares of company stock valued at $1,066,861 over the last quarter. 8.60% of the stock is owned by insiders.

Institutional Trading of Applied Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. acquired a new stake in Applied Therapeutics in the fourth quarter valued at $34,000. Jump Financial LLC acquired a new stake in shares of Applied Therapeutics during the fourth quarter worth about $81,000. Denali Advisors LLC acquired a new stake in shares of Applied Therapeutics during the first quarter worth about $228,000. EntryPoint Capital LLC acquired a new stake in shares of Applied Therapeutics during the first quarter worth about $272,000. Finally, Citigroup Inc. acquired a new stake in shares of Applied Therapeutics during the third quarter worth about $164,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.