Applied Therapeutics, Inc. (NASDAQ:APLT – Get Free Report) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 19,160,000 shares, a growth of 5.6% from the December 15th total of 18,150,000 shares. Based on an average daily volume of 5,880,000 shares, the short-interest ratio is currently 3.3 days.
Institutional Investors Weigh In On Applied Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in Applied Therapeutics by 169.0% in the 4th quarter. SG Americas Securities LLC now owns 40,747 shares of the company’s stock worth $35,000 after buying an additional 25,601 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Applied Therapeutics by 18.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 313,355 shares of the company’s stock worth $268,000 after acquiring an additional 47,983 shares during the last quarter. Barclays PLC grew its holdings in Applied Therapeutics by 186.1% in the third quarter. Barclays PLC now owns 200,012 shares of the company’s stock valued at $1,702,000 after purchasing an additional 130,102 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Applied Therapeutics during the third quarter worth approximately $149,000. Finally, XTX Topco Ltd purchased a new position in Applied Therapeutics during the third quarter worth approximately $531,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.
Wall Street Analysts Forecast Growth
APLT has been the subject of several research reports. Robert W. Baird cut their price target on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. William Blair lowered shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 23rd. Royal Bank of Canada cut their price objective on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research report on Friday, December 20th. UBS Group reiterated a “neutral” rating and set a $2.00 target price (down previously from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Finally, Citigroup cut their price target on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.10.
Applied Therapeutics Stock Up 5.3 %
APLT stock traded up $0.03 during midday trading on Friday, hitting $0.65. The stock had a trading volume of 8,517,643 shares, compared to its average volume of 6,011,855. The company’s 50-day moving average price is $3.32 and its 200 day moving average price is $5.59. Applied Therapeutics has a 12-month low of $0.60 and a 12-month high of $10.62.
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.
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