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

RAPT Therapeutics, Inc. (NASDAQ:RAPT) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,370,000 shares, a decline 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.

RAPT Therapeutics Stock Up 1.1 %

RAPT Therapeutics stock traded up $0.01 during midday trading on Monday, reaching $0.92. The stock had a trading volume of 194,247 shares, compared to its average volume of 733,926. RAPT Therapeutics has a 12 month low of $0.90 and a 12 month high of $27.35. The firm has a market capitalization of $32.15 million, a PE ratio of -0.33 and a beta of 0.07. The firm’s 50-day moving average price is $1.61 and its 200 day moving average price is $2.34.

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

Analysts Set New Price Targets

RAPT has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $8.00 to $2.00 in a research note on Monday, November 11th. Stifel Nicolaus restated a “hold” rating and set a $2.00 target price (down from $7.00) on shares of RAPT Therapeutics in a research note on Wednesday, November 13th. JPMorgan Chase & Co. cut shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Finally, HC Wainwright reissued a “neutral” rating on shares of RAPT Therapeutics in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.50.

Hedge Funds Weigh In On RAPT Therapeutics

Large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its position 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 buying an additional 706,900 shares during the last quarter. Federated Hermes Inc. boosted its position 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 buying an additional 520,368 shares during the period. Acadian Asset Management LLC grew its position in shares of RAPT Therapeutics by 4,183.3% during the second 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 in the last quarter. Cubist Systematic Strategies LLC raised its holdings in RAPT Therapeutics by 826.4% in the second 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 in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in RAPT Therapeutics by 138.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 201,439 shares of the company’s stock worth $405,000 after acquiring an additional 116,853 shares in the last quarter. Institutional investors 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.