Rapt Therapeutics (NASDAQ:RAPT) Short Interest Update

Rapt Therapeutics (NASDAQ:RAPT) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 1,340,164 shares, a drop of 40.2% from the February 12th total of 2,242,149 shares. Based on an average trading volume of 964,859 shares, the short-interest ratio is currently 1.4 days. Approximately 5.0% of the shares of the stock are short sold. Approximately 5.0% of the shares of the stock are short sold. Based on an average trading volume of 964,859 shares, the short-interest ratio is currently 1.4 days.

Rapt Therapeutics Price Performance

NASDAQ RAPT remained flat at $58.02 during trading hours on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of -5.25 and a beta of 0.49. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $58.02. The firm has a 50 day moving average price of $52.37 and a two-hundred day moving average price of $36.15.

Wall Street Analysts Forecast Growth

RAPT has been the topic of a number of recent analyst reports. Barclays downgraded Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a research report on Wednesday, January 21st. Wall Street Zen upgraded Rapt Therapeutics to a “hold” rating in a research report on Saturday, March 7th. TD Cowen lowered shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Thursday, January 22nd. Finally, Wells Fargo & Company lowered Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.44.

Hedge Funds Weigh In On Rapt Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in Rapt Therapeutics by 18.8% in the 4th quarter. Invesco Ltd. now owns 167,030 shares of the company’s stock valued at $5,657,000 after buying an additional 26,486 shares in the last quarter. ADAR1 Capital Management LLC raised its holdings in shares of Rapt Therapeutics by 0.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 509,679 shares of the company’s stock worth $17,263,000 after acquiring an additional 1,908 shares during the period. XTX Topco Ltd acquired a new position in shares of Rapt Therapeutics during the 4th quarter valued at about $616,000. Voloridge Investment Management LLC acquired a new position in shares of Rapt Therapeutics during the 4th quarter valued at about $233,000. Finally, Virtus Investment Advisers LLC purchased a new stake in shares of Rapt Therapeutics in the fourth quarter valued at about $245,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

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.