Patrick Moloney's hopes of winning this season's apprentices' premiership in Melbourne have been dashed because of injury but the rider is still on target to return sooner than expected.

Moloney fractured both his ankles in a fall at Flemington on April 5, when he was leading the Victorian and Melbourne apprentices' premierships.

Harry Coffey is now level in the Melbourne standings and has taken over as the leader state-wide.

Moloney has told Racing Victoria he hopes to be back riding early in the new season with his rehabilitation more than a month ahead of schedule.

"Everything is coming along really well and I'm hopefully going to be back riding in races during August," Moloney said.

"I've been doing a lot of swimming and cycling as well as some boxing and work on the cross-trainer and I'm feeling really good."