RAPT Therapeutics, Inc. (NASDAQ:RAPT) Sees Significant Increase in Short Interest

RAPT Therapeutics, Inc. (NASDAQ:RAPT) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 4,940,000 shares, an increase of 85.0% from the March 15th total of 2,670,000 shares. Approximately 15.1% of the shares of the company are sold short. Based on an average daily trading volume, of 852,200 shares, the short-interest ratio is currently 5.8 days.

Institutional Trading of RAPT Therapeutics

Several hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its stake in RAPT Therapeutics by 27.7% during the first quarter. Exchange Traded Concepts LLC now owns 113,738 shares of the company’s stock worth $139,000 after acquiring an additional 24,662 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in RAPT Therapeutics in the 1st quarter worth about $25,000. Trustees of Columbia University in the City of New York bought a new stake in RAPT Therapeutics in the fourth quarter worth about $116,000. Shay Capital LLC bought a new stake in shares of RAPT Therapeutics during the 4th quarter worth approximately $81,000. Finally, RTW Investments LP purchased a new position in RAPT Therapeutics during the 4th quarter valued at $18,587,000. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

RAPT Therapeutics Stock Down 1.3 %

RAPT stock traded down $0.01 during midday trading on Friday, hitting $0.79. The company’s stock had a trading volume of 781,946 shares, compared to its average volume of 1,271,099. The firm has a market capitalization of $104.35 million, a price-to-earnings ratio of -0.29 and a beta of -0.29. RAPT Therapeutics has a 12 month low of $0.75 and a 12 month high of $8.58. The company has a 50 day moving average of $1.13 and a two-hundred day moving average of $1.37.

RAPT Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.69). On average, analysts anticipate that RAPT Therapeutics will post -2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of RAPT Therapeutics in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.00.

About RAPT Therapeutics

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.