Applied Therapeutics, Inc. (NASDAQ:APLT) Short Interest Down 6.3% in May

Applied Therapeutics, Inc. (NASDAQ:APLT) saw a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 4,280,000 shares, a decline of 6.3% from the May 15th total of 4,570,000 shares. Based on an average trading volume of 842,800 shares, the short-interest ratio is currently 5.1 days.

Applied Therapeutics Stock Down 3.7 %

Shares of APLT stock traded down $0.18 during mid-day trading on Tuesday, hitting $4.65. The company’s stock had a trading volume of 128,565 shares, compared to its average volume of 1,529,276. Applied Therapeutics has a 52-week low of $1.18 and a 52-week high of $9.39. The business has a 50-day moving average price of $4.59 and a 200 day moving average price of $4.36.

Applied Therapeutics (NASDAQ:APLT) last posted its 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. Equities analysts forecast that Applied Therapeutics will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Leslie D. Funtleyder sold 16,980 shares of the stock in a transaction that occurred 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 accessible through the SEC website. In other Applied Therapeutics news, CFO Leslie D. Funtleyder sold 16,980 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 291,441 shares of the company’s stock, valued at approximately $1,259,025.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. Following the transaction, the insider now directly owns 6,005,077 shares in the company, valued at $25,281,374.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,778 shares of company stock valued at $1,066,861. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of APLT. Vontobel Holding Ltd. bought a new position in shares of Applied Therapeutics in the fourth quarter worth about $34,000. Jump Financial LLC bought a new stake in Applied Therapeutics during the 4th quarter worth approximately $81,000. Citigroup Inc. bought a new stake in Applied Therapeutics during the 3rd quarter worth approximately $164,000. Denali Advisors LLC purchased a new position in Applied Therapeutics during the first quarter valued at approximately $228,000. Finally, EntryPoint Capital LLC bought a new position in shares of Applied Therapeutics in the first quarter worth approximately $272,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on APLT. Leerink Partnrs reissued an “outperform” rating on shares of Applied Therapeutics in a research report on Thursday, February 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of Applied Therapeutics in a research note on Thursday, April 11th. SVB Leerink assumed coverage on shares of Applied Therapeutics in a research note on Thursday, February 22nd. They set an “outperform” rating and a $12.00 target price for the company. Finally, UBS Group upped their price target on Applied Therapeutics from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Therapeutics currently has a consensus rating of “Buy” and an average target price of $11.00.

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.