Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Rises By 32.5%

RAPT Therapeutics, Inc. (NASDAQ:RAPT - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,300,000 shares, a growth of 32.5% from the February 29th total of 2,490,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Trading of RAPT Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RAPT. Swiss National Bank lifted its position in RAPT Therapeutics by 7.6% during the 1st quarter. Swiss National Bank now owns 45,400 shares of the company's stock worth $998,000 after acquiring an additional 3,200 shares during the period. JPMorgan Chase & Co. raised its stake in shares of RAPT Therapeutics by 23.7% during the 1st quarter. JPMorgan Chase & Co. now owns 13,575 shares of the company's stock valued at $299,000 after buying an additional 2,599 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of RAPT Therapeutics by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 11,028 shares of the company's stock valued at $243,000 after buying an additional 4,070 shares during the last quarter. Rhumbline Advisers raised its stake in shares of RAPT Therapeutics by 18.3% during the 1st quarter. Rhumbline Advisers now owns 21,961 shares of the company's stock valued at $483,000 after buying an additional 3,405 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of RAPT Therapeutics by 32.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 285,325 shares of the company's stock valued at $6,274,000 after buying an additional 69,238 shares during the last quarter. Institutional investors and hedge funds own 99.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RAPT shares. Barclays cut their price target on RAPT Therapeutics from $35.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, February 21st. SVB Leerink downgraded RAPT Therapeutics from an "outperform" rating to a "market perform" rating and cut their price target for the company from $42.00 to $10.00 in a report on Wednesday, February 21st. Evercore ISI initiated coverage on RAPT Therapeutics in a research report on Friday, February 16th. They issued an "outperform" rating for the company. Cantor Fitzgerald cut RAPT Therapeutics from an "overweight" rating to a "neutral" rating in a research report on Tuesday, February 20th. Finally, HC Wainwright cut RAPT Therapeutics from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.67.

RAPT Therapeutics Price Performance

RAPT traded down $0.53 on Monday, reaching $8.45. 564,740 shares of the stock were exchanged, compared to its average volume of 1,257,250. The company's 50-day moving average price is $15.34 and its 200 day moving average price is $16.63. RAPT Therapeutics has a fifty-two week low of $6.86 and a fifty-two week high of $27.35. The firm has a market capitalization of $294.04 million, a PE ratio of -2.78 and a beta of 0.47.

RAPT Therapeutics (NASDAQ:RAPT - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping analysts' consensus estimates of ($0.85) by $0.05. As a group, equities analysts forecast that RAPT Therapeutics will post -3.21 earnings per share for the current fiscal year.

RAPT Therapeutics Company Profile

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.