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

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

RAPT Therapeutics Stock Up 9.8 %

NASDAQ:RAPT traded up $0.11 during trading hours on Thursday, reaching $1.23. The company had a trading volume of 609,495 shares, compared to its average volume of 756,657. RAPT Therapeutics has a twelve month low of $1.00 and a twelve month high of $27.35. The firm has a market cap of $43.00 million, a price-to-earnings ratio of -0.44 and a beta of 0.33. The business’s 50-day simple moving average is $1.80 and its two-hundred day simple moving average is $2.61.

RAPT Therapeutics (NASDAQ:RAPT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.09. As a group, equities analysts predict that RAPT Therapeutics will post -2.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on RAPT shares. Wells Fargo & Company cut their price target on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. HC Wainwright reaffirmed a “neutral” rating on shares of RAPT Therapeutics in a research report on Monday. JPMorgan Chase & Co. lowered RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Stifel Nicolaus reaffirmed 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. Finally, Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $8.00 to $2.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.50.

Institutional Trading of RAPT Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Readystate Asset Management LP bought a new position in RAPT Therapeutics in the 3rd quarter valued at about $36,000. Barclays PLC increased its holdings in shares of RAPT Therapeutics by 277.2% in the 3rd quarter. Barclays PLC now owns 39,729 shares of the company’s stock worth $79,000 after buying an additional 29,195 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of RAPT Therapeutics in the 2nd quarter valued at about $108,000. Hennion & Walsh Asset Management Inc. grew its position in RAPT Therapeutics by 8.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock worth $148,000 after acquiring an additional 3,824 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in RAPT Therapeutics by 244.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock worth $179,000 after purchasing an additional 63,235 shares during the period. 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.