RAPT Therapeutics, Inc. (NASDAQ:RAPT) Short Interest Update

RAPT Therapeutics, Inc. (NASDAQ:RAPT) was the recipient of a large increase in short interest in 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RAPT shares. HC Wainwright upgraded RAPT Therapeutics from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, December 26th. UBS Group dropped their price target 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. Piper Sandler downgraded shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $2.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. downgraded RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.00 price objective (down from $7.00) on shares of RAPT Therapeutics in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, RAPT Therapeutics currently has a consensus rating of “Hold” and an average price target of $9.56.

RAPT Therapeutics Stock Performance

RAPT traded down $0.04 during midday trading on Tuesday, reaching $1.58. 2,746,637 shares of the company were exchanged, compared to its average volume of 1,366,551. The company has a market cap of $55.23 million, a price-to-earnings ratio of -0.57 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 company’s fifty day moving average price is $1.50 and its 200 day moving average price is $2.15.

RAPT Therapeutics (NASDAQ:RAPT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.09. As a group, sell-side analysts anticipate that RAPT Therapeutics will post -2.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RAPT Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in shares of 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 purchasing an additional 520,368 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of 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 increased its stake in shares of RAPT Therapeutics by 4,183.3% during the 2nd quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock worth $1,424,000 after purchasing an additional 456,275 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of RAPT Therapeutics by 826.4% in 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 stake in RAPT Therapeutics by 108.1% in the second quarter. Renaissance Technologies LLC now owns 203,900 shares of the company’s stock valued at $622,000 after purchasing an additional 105,900 shares during the last quarter. 99.09% of the stock is owned by institutional investors.

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.