RAPT Therapeutics, Inc. (NASDAQ:RAPT) Short Interest Up 25.5% in December

RAPT Therapeutics, Inc. (NASDAQ:RAPT) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 1,720,000 shares, an increase of 25.5% from the November 30th total of 1,370,000 shares. Based on an average daily volume of 2,800,000 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. grew its stake in shares of 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 in the last quarter. Cubist Systematic Strategies LLC grew its position 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. 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. XTX Topco Ltd acquired a new position in shares of RAPT Therapeutics during the second quarter worth $108,000. Finally, Federated Hermes Inc. boosted its stake in shares of RAPT Therapeutics by 188.7% in the second 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stifel Nicolaus restated a “hold” rating and set a $2.00 target price (down previously from $7.00) on shares of RAPT Therapeutics in a research report on Wednesday, November 13th. UBS Group decreased their price objective on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. JPMorgan Chase & Co. lowered RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. HC Wainwright upgraded RAPT Therapeutics from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday. Finally, Piper Sandler cut RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $2.00 in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.56.

RAPT Therapeutics Stock Performance

Shares of NASDAQ:RAPT traded down $0.12 during trading on Friday, reaching $1.69. 3,466,147 shares of the stock were exchanged, compared to its average volume of 1,358,043. The firm’s 50-day moving average price is $1.50 and its 200 day moving average price is $2.15. The firm has a market cap of $59.08 million, a price-to-earnings ratio of -0.61 and a beta of 0.07. RAPT Therapeutics has a 12-month low of $0.79 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.09. As a group, equities research analysts forecast that RAPT Therapeutics will post -2.86 EPS for the current year.

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.