Short Interest in Applied DNA Sciences, Inc. (NASDAQ:APDN) Decreases By 92.2%

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 233,100 shares, a drop of 92.2% from the February 28th total of 3,000,000 shares. Approximately 22.6% of the company’s shares are short sold. Based on an average daily trading volume, of 670,200 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Applied DNA Sciences

A number of hedge funds have recently bought and sold shares of APDN. Jane Street Group LLC acquired a new position in shares of Applied DNA Sciences during the third quarter valued at about $48,000. Millennium Management LLC bought a new position in Applied DNA Sciences during the 4th quarter valued at about $28,000. Connective Capital Management LLC bought a new stake in Applied DNA Sciences during the fourth quarter worth about $36,000. Finally, Geode Capital Management LLC increased its holdings in shares of Applied DNA Sciences by 291.1% during the fourth quarter. Geode Capital Management LLC now owns 417,485 shares of the technology company’s stock worth $85,000 after buying an additional 310,749 shares in the last quarter. 22.22% of the stock is currently owned by institutional investors.

Applied DNA Sciences Price Performance

APDN opened at $1.87 on Friday. The stock has a market cap of $2.06 million, a P/E ratio of -0.33 and a beta of 0.43. Applied DNA Sciences has a 12 month low of $1.67 and a 12 month high of $460.00. The stock’s 50 day moving average price is $6.75 and its 200 day moving average price is $15.15.

Applied DNA Sciences (NASDAQ:APDN) last announced its earnings results on Thursday, February 13th. The technology company reported ($28.00) EPS for the quarter, missing the consensus estimate of ($16.00) by ($12.00). Applied DNA Sciences had a negative net margin of 228.12% and a negative return on equity of 101.57%. Equities analysts anticipate that Applied DNA Sciences will post -0.87 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Applied DNA Sciences in a research report on Monday, March 17th. They issued a “sell” rating for the company.

About Applied DNA Sciences

Applied DNA Sciences, Inc, a biotechnology company, develops and commercializes technologies to produce and detect deoxyribonucleic acid (DNA) in the Americas, Europe, Asia, and internationally. It operates through three segments: Therapeutic DNA Production Services; MDx Testing Services; and DNA Tagging and Security Products and Services.