Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Increases By 107.0%

RAPT Therapeutics, Inc. (NASDAQ:RAPT) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,560,000 shares, a growth of 107.0% from the December 15th total of 1,720,000 shares. Based on an average trading volume of 3,160,000 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of RAPT Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of RAPT Therapeutics by 24.0% in the second quarter. Bank of New York Mellon Corp now owns 114,590 shares of the company’s stock valued at $349,000 after buying an additional 22,175 shares in the last quarter. Los Angeles Capital Management LLC grew its position in RAPT Therapeutics by 66.2% in the second quarter. Los Angeles Capital Management LLC now owns 84,586 shares of the company’s stock valued at $258,000 after acquiring an additional 33,692 shares in the last quarter. Acadian Asset Management LLC raised its stake 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 period. Federated Hermes Inc. lifted 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 purchasing an additional 520,368 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of 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 period. 99.09% of the stock is currently owned by institutional investors and hedge funds.

RAPT Therapeutics Stock Down 9.1 %

Shares of RAPT traded down $0.11 on Tuesday, hitting $1.10. 1,311,540 shares of the stock traded hands, compared to its average volume of 1,564,755. The firm has a market capitalization of $38.45 million, a P/E ratio of -0.40 and a beta of 0.07. RAPT Therapeutics has a 1 year low of $0.79 and a 1 year high of $27.35. The stock’s 50 day moving average is $1.41 and its two-hundred day moving average is $2.03.

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

Analysts Set New Price Targets

A number of analysts have weighed in on RAPT shares. Wells Fargo & Company decreased their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. downgraded RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Piper Sandler cut shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $8.00 to $2.00 in a research note on Monday, November 11th. Stifel Nicolaus restated a “hold” rating and issued a $2.00 target price (down previously from $7.00) on shares of RAPT Therapeutics in a research note on Wednesday, November 13th. Finally, HC Wainwright raised shares of RAPT Therapeutics from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.56.

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.