Short Interest in Rapt Therapeutics (NASDAQ:RAPT) Increases By 81.3%

Rapt Therapeutics (NASDAQ:RAPT) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 3,224,474 shares, an increase of 81.3% from the January 15th total of 1,778,833 shares. Approximately 12.5% of the shares of the company are short sold. Based on an average daily trading volume, of 5,032,283 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 5,032,283 shares, the short-interest ratio is currently 0.6 days. Approximately 12.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RAPT. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Rapt Therapeutics during the 4th quarter valued at $46,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Rapt Therapeutics during the fourth quarter worth $153,000. Bank of Nova Scotia purchased a new stake in shares of Rapt Therapeutics during the fourth quarter valued at $227,000. Hudson Bay Capital Management LP purchased a new stake in shares of Rapt Therapeutics during the fourth quarter valued at $301,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Rapt Therapeutics in the 3rd quarter valued at $231,000. Institutional investors own 99.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RAPT. HC Wainwright downgraded Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 target price on the stock. in a research note on Tuesday, January 20th. Piper Sandler cut shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Thursday, January 22nd. Clear Str cut shares of Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, Lifesci Capital downgraded shares of Rapt Therapeutics from an “outperform” rating to a “hold” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rapt Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $48.44.

Rapt Therapeutics Trading Down 0.2%

Shares of Rapt Therapeutics stock opened at $57.72 on Friday. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $57.86. The stock has a market cap of $1.60 billion, a PE ratio of -5.22 and a beta of 0.47. The company’s 50-day moving average price is $43.09 and its two-hundred day moving average price is $29.42.

Rapt Therapeutics Company Profile

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.