Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Grows By 25.5%

RAPT Therapeutics, Inc. (NASDAQ:RAPT) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,720,000 shares, an increase of 25.5% from the November 30th total of 1,370,000 shares. Based on an average daily volume of 2,800,000 shares, the days-to-cover ratio is currently 0.6 days.

RAPT Therapeutics Stock Performance

NASDAQ:RAPT traded down $0.12 during trading hours on Friday, hitting $1.69. The company’s stock had a trading volume of 3,466,147 shares, compared to its average volume of 1,358,043. RAPT Therapeutics has a 52-week low of $0.79 and a 52-week high of $27.35. The business’s 50-day moving average is $1.50 and its two-hundred day moving average is $2.15. The company has a market capitalization of $59.08 million, a PE ratio of -0.61 and a beta of 0.07.

RAPT Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.09. As a group, analysts predict that RAPT Therapeutics will post -2.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RAPT has been the topic of several research analyst reports. UBS Group cut their price target on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. HC Wainwright raised shares of RAPT Therapeutics from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday. Wells Fargo & Company decreased their price target on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Finally, Piper Sandler lowered RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $2.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.56.

Institutional Investors Weigh In On RAPT Therapeutics

Institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. increased its stake in RAPT Therapeutics by 176,725.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after purchasing an additional 706,900 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of RAPT Therapeutics by 826.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after buying an additional 263,372 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of RAPT Therapeutics by 4,183.3% in the 2nd quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock worth $1,424,000 after buying an additional 456,275 shares in the last quarter. XTX Topco Ltd acquired a new stake in RAPT Therapeutics in the 2nd quarter valued at about $108,000. Finally, Federated Hermes Inc. increased its holdings in RAPT Therapeutics by 188.7% during the 2nd quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock valued at $2,428,000 after acquiring an additional 520,368 shares in the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

RAPT Therapeutics Company Profile

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the United States. The company's lead inflammation drug candidate is zelnecirnon (RPT193), a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.