RAPT Therapeutics, Inc. (NASDAQ:RAPT) Sees Large Decrease in Short Interest

RAPT Therapeutics, Inc. (NASDAQ:RAPT) saw a large decline in short interest in 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 trading volume of 533,100 shares, the days-to-cover ratio is presently 2.6 days.

Hedge Funds Weigh In On RAPT Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. raised its holdings in shares of RAPT Therapeutics by 176,725.0% during the second quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock worth $2,157,000 after purchasing an additional 706,900 shares during the period. Cubist Systematic Strategies LLC boosted its stake 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 during the period. Acadian Asset Management LLC grew its holdings 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 valued at $1,424,000 after purchasing an additional 456,275 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of RAPT Therapeutics during the 2nd quarter worth approximately $108,000. Finally, Federated Hermes Inc. boosted its position in 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 period. 99.09% of the stock is owned by institutional investors and hedge funds.

RAPT Therapeutics Trading Down 11.7 %

Shares of RAPT traded down $0.12 during trading hours on Friday, reaching $0.91. The company had a trading volume of 337,774 shares, compared to its average volume of 736,215. The company has a market capitalization of $31.81 million, a price-to-earnings ratio of -0.33 and a beta of 0.07. The firm has a 50 day simple moving average of $1.61 and a 200-day simple moving average of $2.35. RAPT Therapeutics has a 12-month low of $0.91 and a 12-month high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last released 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. Sell-side analysts forecast that RAPT Therapeutics will post -2.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on RAPT. UBS Group decreased their price target on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Wells Fargo & Company dropped their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Piper Sandler downgraded RAPT Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $2.00 in a report on Monday, November 11th. HC Wainwright reaffirmed a “neutral” rating on shares of RAPT Therapeutics in a research report on Monday, November 25th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $2.00 price objective (down from $7.00) on shares of RAPT Therapeutics in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, RAPT Therapeutics presently has a consensus 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.