Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Drops By 25.8%

RAPT Therapeutics, Inc. (NASDAQ:RAPT) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 2,640,000 shares, a decline of 25.8% from the December 31st total of 3,560,000 shares. Based on an average daily trading volume, of 3,320,000 shares, the short-interest ratio is presently 0.8 days.

RAPT Therapeutics Trading Down 2.6 %

Shares of NASDAQ:RAPT opened at $1.14 on Friday. RAPT Therapeutics has a 12-month low of $0.79 and a 12-month high of $27.35. The business’s fifty day simple moving average is $1.26 and its 200-day simple moving average is $1.88.

RAPT Therapeutics (NASDAQ:RAPT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.09. As a group, equities analysts anticipate that RAPT Therapeutics will post -2.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RAPT. Medicxi Ventures Management Jersey Ltd acquired a new stake in RAPT Therapeutics in the fourth quarter valued at approximately $35,316,000. Point72 Asset Management L.P. boosted its position in shares of RAPT Therapeutics by 176,725.0% in the 2nd 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 in the last quarter. Cubist Systematic Strategies LLC grew its stake in RAPT Therapeutics by 826.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after buying an additional 263,372 shares during the last quarter. Renaissance Technologies LLC increased its position in RAPT Therapeutics by 108.1% during the 2nd quarter. Renaissance Technologies LLC now owns 203,900 shares of the company’s stock valued at $622,000 after buying an additional 105,900 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in RAPT Therapeutics by 138.1% in the third quarter. Los Angeles Capital Management LLC now owns 201,439 shares of the company’s stock valued at $405,000 after buying an additional 116,853 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RAPT shares. Wells Fargo & Company reduced their price target 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 decreased their target price for the stock from $8.00 to $2.00 in a research report on Monday, November 11th. HC Wainwright upgraded shares of RAPT Therapeutics from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, December 26th. JPMorgan Chase & Co. lowered shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $2.00 target price (down from $7.00) on shares of RAPT Therapeutics in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.56.

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.