Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Expands 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 short-interest ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RAPT shares. Wells Fargo & Company cut their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.00 price target (down previously from $7.00) on shares of RAPT Therapeutics in a research note on Wednesday, November 13th. UBS Group dropped their price objective on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $2.00 in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.56.

RAPT Therapeutics Price Performance

NASDAQ RAPT traded down $0.04 during trading on Tuesday, hitting $1.58. The company’s stock had a trading volume of 2,746,637 shares, compared to its average volume of 1,366,551. RAPT Therapeutics has a fifty-two week low of $0.79 and a fifty-two week high of $27.35. The company has a market cap of $55.23 million, a PE ratio of -0.57 and a beta of 0.07. The business’s 50 day simple moving average is $1.50 and its 200-day simple moving average is $2.15.

RAPT Therapeutics (NASDAQ:RAPT) last released its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.09. Analysts expect that RAPT Therapeutics will post -2.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Federated Hermes Inc. boosted its position in RAPT Therapeutics by 188.7% in the second quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock valued at $2,428,000 after buying an additional 520,368 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in RAPT Therapeutics by 176,725.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after acquiring an additional 706,900 shares during the period. Acadian Asset Management LLC boosted its holdings 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 valued at $1,424,000 after acquiring an additional 456,275 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in 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 purchasing an additional 263,372 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of RAPT Therapeutics by 108.1% in the 2nd quarter. Renaissance Technologies LLC now owns 203,900 shares of the company’s stock valued at $622,000 after buying an additional 105,900 shares during the period. 99.09% of the stock is owned by institutional investors and hedge funds.

About RAPT Therapeutics

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.