Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Decreases By 17.5%

RAPT Therapeutics, Inc. (NASDAQ:RAPT) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,370,000 shares, a drop of 17.5% from the November 15th total of 1,660,000 shares. Based on an average daily volume of 533,100 shares, the short-interest ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

RAPT has been the subject of several recent research reports. Wells Fargo & Company reduced their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Stifel Nicolaus restated a “hold” rating and set a $2.00 target price (down from $7.00) on shares of RAPT Therapeutics in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. UBS Group cut their target price on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Piper Sandler cut shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $2.00 in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.50.

RAPT Therapeutics Trading Down 11.7 %

Shares of NASDAQ RAPT traded down $0.12 during midday trading on Friday, reaching $0.91. 337,774 shares of the company were exchanged, compared to its average volume of 736,215. RAPT Therapeutics has a 1 year low of $0.91 and a 1 year high of $27.35. The stock has a market cap of $31.81 million, a P/E ratio of -0.33 and a beta of 0.07. The stock has a fifty day simple moving average of $1.61 and a 200 day simple moving average of $2.36.

RAPT Therapeutics (NASDAQ:RAPT) last issued 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. As a group, analysts forecast that RAPT Therapeutics will post -2.86 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in RAPT Therapeutics by 277.2% during the 3rd quarter. Barclays PLC now owns 39,729 shares of the company’s stock valued at $79,000 after acquiring an additional 29,195 shares during the last quarter. Readystate Asset Management LP bought a new stake in RAPT Therapeutics in the third quarter valued at about $36,000. Los Angeles Capital Management LLC raised its stake in RAPT Therapeutics by 138.1% during the third quarter. Los Angeles Capital Management LLC now owns 201,439 shares of the company’s stock valued at $405,000 after buying an additional 116,853 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in RAPT Therapeutics by 244.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock worth $179,000 after buying an additional 63,235 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of 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 worth $2,157,000 after acquiring an additional 706,900 shares in the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.

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.