Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Increases By 107.0%

RAPT Therapeutics, Inc. (NASDAQ:RAPT) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,560,000 shares, an increase of 107.0% from the December 15th total of 1,720,000 shares. Based on an average trading volume of 3,160,000 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RAPT. Wells Fargo & Company reduced their price target on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Stifel Nicolaus reissued a “hold” rating and set a $2.00 price target (down previously from $7.00) on shares of RAPT Therapeutics in a research report on Wednesday, November 13th. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $2.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. downgraded shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Finally, HC Wainwright raised shares of RAPT Therapeutics from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, December 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.56.

Institutional Trading of RAPT Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RAPT. JPMorgan Chase & Co. grew its holdings in RAPT Therapeutics by 298.2% during the third quarter. JPMorgan Chase & Co. now owns 16,703 shares of the company’s stock worth $34,000 after acquiring an additional 25,130 shares during the period. Readystate Asset Management LP bought a new position in shares of RAPT Therapeutics during the 3rd quarter valued at about $36,000. XTX Topco Ltd acquired a new position in shares of RAPT Therapeutics in the 2nd quarter worth approximately $108,000. Barclays PLC raised its holdings in shares of RAPT Therapeutics by 277.2% in the 3rd quarter. Barclays PLC now owns 39,729 shares of the company’s stock worth $79,000 after purchasing an additional 29,195 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in RAPT Therapeutics by 66.2% during the second quarter. Los Angeles Capital Management LLC now owns 84,586 shares of the company’s stock valued at $258,000 after purchasing an additional 33,692 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.

RAPT Therapeutics Stock Down 9.1 %

RAPT Therapeutics stock traded down $0.11 during mid-day trading on Tuesday, hitting $1.10. 1,311,540 shares of the company’s stock traded hands, compared to its average volume of 1,564,755. The company has a market cap of $38.45 million, a PE ratio of -0.40 and a beta of 0.07. RAPT Therapeutics has a one year low of $0.79 and a one year high of $27.35. The firm has a 50 day moving average price of $1.41 and a 200 day moving average price of $2.03.

RAPT Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.09. On average, analysts expect that RAPT Therapeutics will post -2.86 earnings per share for the current fiscal year.

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.