Rapt Therapeutics (NASDAQ:RAPT) Short Interest Update

Rapt Therapeutics (NASDAQ:RAPT) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 1,653,267 shares, an increase of 80.5% from the December 15th total of 916,065 shares. Based on an average daily volume of 427,259 shares, the short-interest ratio is presently 3.9 days. Currently, 6.4% of the company’s stock are short sold. Currently, 6.4% of the company’s stock are short sold. Based on an average daily volume of 427,259 shares, the short-interest ratio is presently 3.9 days.

Institutional Investors Weigh In On Rapt Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. purchased a new stake in shares of Rapt Therapeutics during the third quarter worth about $3,625,000. SummitTX Capital L.P. purchased a new position in Rapt Therapeutics in the 3rd quarter worth approximately $2,370,000. Velan Capital Investment Management LP bought a new position in Rapt Therapeutics in the 3rd quarter worth approximately $2,063,000. Ameriprise Financial Inc. purchased a new stake in Rapt Therapeutics during the 3rd quarter valued at approximately $1,326,000. Finally, Susquehanna International Group LLP raised its position in shares of Rapt Therapeutics by 173.4% during the third quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock valued at $1,170,000 after buying an additional 28,782 shares during the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics Stock Performance

Shares of Rapt Therapeutics stock opened at $35.10 on Friday. The stock has a market cap of $972.62 million, a P/E ratio of -3.17 and a beta of 0.45. The stock’s fifty day moving average is $32.63 and its 200 day moving average is $22.97. Rapt Therapeutics has a one year low of $5.67 and a one year high of $42.39.

Rapt Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.23. Analysts predict that Rapt Therapeutics will post -2.14 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RAPT. Wells Fargo & Company set a $72.00 price target on Rapt Therapeutics and gave the company an “overweight” rating in a report on Monday, November 3rd. Leerink Partnrs upgraded shares of Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Piper Sandler began coverage on shares of Rapt Therapeutics in a report on Friday, January 9th. They set an “overweight” rating and a $95.00 price target on the stock. Barclays decreased their price objective on shares of Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Finally, TD Cowen started coverage on shares of Rapt Therapeutics in a report on Thursday, December 18th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.44.

About Rapt Therapeutics

RAPT Therapeutics, Inc (NASDAQ:RAPT) is a clinical-stage biotechnology company developing novel therapeutics for autoimmune and allergic diseases. Founded in 2013 and headquartered in San Diego, California, RAPT applies tissue-selective immunology to design small molecule and biologic candidates that modulate immune cell trafficking and tissue-resident pathways. The company’s research platform enables the identification of targets that drive tissue inflammation with the goal of achieving improved efficacy and safety profiles over current therapies.

The company’s lead asset, RPT193, is an orally available antagonist of the CC chemokine receptor 4 (CCR4), currently in clinical development for atopic dermatitis and allergic asthma.