RAPT Therapeutics, Inc. (NASDAQ:RAPT) Short Interest Down 17.5% in November

RAPT Therapeutics, Inc. (NASDAQ:RAPT) was the target of a significant 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 short-interest ratio is presently 2.6 days.

RAPT Therapeutics Trading Down 11.7 %

Shares of NASDAQ:RAPT traded down $0.12 during mid-day trading on Friday, reaching $0.91. The stock had a trading volume of 337,774 shares, compared to its average volume of 736,215. RAPT Therapeutics has a 1 year low of $0.91 and a 1 year high of $27.35. The company has a market cap of $31.81 million, a P/E ratio of -0.33 and a beta of 0.07. The business’s 50 day moving average price is $1.61 and its 200 day moving average price is $2.35.

RAPT Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.09. Analysts predict that RAPT Therapeutics will post -2.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RAPT Therapeutics

Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its position in RAPT Therapeutics by 176,725.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock worth $2,157,000 after buying an additional 706,900 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of RAPT Therapeutics by 188.7% in 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 in the last quarter. Acadian Asset Management LLC raised its stake in shares of RAPT Therapeutics by 4,183.3% during the 2nd quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock worth $1,424,000 after buying an additional 456,275 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of RAPT Therapeutics by 826.4% during the second quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after purchasing an additional 263,372 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in RAPT Therapeutics by 138.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 201,439 shares of the company’s stock worth $405,000 after buying an additional 116,853 shares during the last quarter. 99.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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