Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Drops By 37.8%

RAPT Therapeutics, Inc. (NASDAQ:RAPT) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,660,000 shares, a decline of 37.8% from the October 31st total of 2,670,000 shares. Based on an average daily trading volume, of 520,200 shares, the short-interest ratio is currently 3.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. boosted its holdings in RAPT Therapeutics by 176,725.0% in the second 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. Federated Hermes Inc. grew its holdings in shares of RAPT Therapeutics by 188.7% during the second quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock worth $2,428,000 after purchasing an additional 520,368 shares during the last quarter. Acadian Asset Management LLC grew its stake in 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 buying an additional 456,275 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of RAPT Therapeutics by 21.2% in the first quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock valued at $22,386,000 after acquiring an additional 436,629 shares during the period. Finally, Cubist Systematic Strategies LLC increased 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 valued at $900,000 after acquiring an additional 263,372 shares during the period. 99.09% of the stock is owned by institutional investors and hedge funds.

RAPT Therapeutics Stock Performance

Shares of NASDAQ:RAPT traded up $0.11 during midday trading on Thursday, reaching $1.23. 609,495 shares of the company’s stock traded hands, compared to its average volume of 756,657. The company has a market cap of $43.00 million, a P/E ratio of -0.44 and a beta of 0.33. The company has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $2.61. RAPT Therapeutics has a 1 year low of $1.00 and a 1 year high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.09. As a group, research analysts forecast that RAPT Therapeutics will post -2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RAPT. HC Wainwright reaffirmed a “neutral” rating on shares of RAPT Therapeutics in a report on Monday. Wells Fargo & Company lowered their target price on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. UBS Group cut their target price on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $2.00 price target (down from $7.00) on shares of RAPT Therapeutics in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.50.

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.