Rapt Therapeutics (NASDAQ:RAPT) Short Interest Update

Rapt Therapeutics (NASDAQ:RAPT) saw a significant decrease in short interest in February. As of February 27th, there was short interest totaling 1,340,164 shares, a decrease of 40.2% from the February 12th total of 2,242,149 shares. Based on an average daily volume of 964,859 shares, the days-to-cover ratio is presently 1.4 days. Currently, 5.0% of the shares of the company are sold short. Currently, 5.0% of the shares of the company are sold short. Based on an average daily volume of 964,859 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

RAPT has been the topic of a number of recent analyst reports. TD Cowen cut shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Barclays cut shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 target price on the stock. in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Thursday, January 22nd. Piper Sandler cut shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price objective for the company. in a report on Tuesday, January 20th. Finally, Lifesci Capital lowered shares of Rapt Therapeutics from an “outperform” rating to a “hold” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.44.

Rapt Therapeutics Price Performance

RAPT stock remained flat at $58.02 on Friday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -5.25 and a beta of 0.49. Rapt Therapeutics has a one year low of $5.67 and a one year high of $58.02. The company has a 50 day simple moving average of $52.37 and a two-hundred day simple moving average of $35.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RAPT. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Rapt Therapeutics in the 4th quarter worth approximately $46,000. Invesco Ltd. boosted its position in Rapt Therapeutics by 411.7% in the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock valued at $72,000 after buying an additional 47,391 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Rapt Therapeutics in the fourth quarter worth about $153,000. AQR Capital Management LLC acquired a new stake in shares of Rapt Therapeutics during the 1st quarter worth approximately $188,000. Finally, Bank of Nova Scotia bought a new stake in shares of Rapt Therapeutics during the 4th quarter valued at $227,000. Institutional investors 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.