Short Interest in RAPT Therapeutics, Inc. (NASDAQ:RAPT) Increases By 39.9%

RAPT Therapeutics, Inc. (NASDAQ:RAPT - Get Free Report) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 5,010,000 shares, a growth of 39.9% from the April 30th total of 3,580,000 shares. Approximately 15.3% of the company's stock are short sold. Based on an average daily volume of 912,800 shares, the short-interest ratio is currently 5.5 days.

RAPT Therapeutics Stock Performance

RAPT stock remained flat at $1.02 during midday trading on Thursday. The company had a trading volume of 278,068 shares, compared to its average volume of 1,283,250. The business's fifty day moving average price is $0.92 and its two-hundred day moving average price is $1.12. The company has a market capitalization of $134.93 million, a price-to-earnings ratio of -0.37 and a beta of -0.04. RAPT Therapeutics has a 1 year low of $0.71 and a 1 year high of $4.21.

RAPT Therapeutics (NASDAQ:RAPT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.23. Equities analysts anticipate that RAPT Therapeutics will post -2.14 EPS for the current year.

Institutional Trading of RAPT Therapeutics

Large investors have recently bought and sold shares of the business. Simplicity Wealth LLC acquired a new stake in RAPT Therapeutics in the first quarter valued at approximately $25,000. Picton Mahoney Asset Management raised its stake in RAPT Therapeutics by 994.4% in the fourth quarter. Picton Mahoney Asset Management now owns 16,175 shares of the company's stock valued at $26,000 after purchasing an additional 14,697 shares in the last quarter. JPMorgan Chase & Co. raised its stake in RAPT Therapeutics by 298.2% in the third quarter. JPMorgan Chase & Co. now owns 16,703 shares of the company's stock valued at $34,000 after purchasing an additional 25,130 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in RAPT Therapeutics in the fourth quarter valued at approximately $63,000. Finally, Sei Investments Co. purchased a new stake in RAPT Therapeutics in the fourth quarter valued at approximately $64,000. 99.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group dropped their price objective on RAPT Therapeutics from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Wall Street Zen upgraded RAPT Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, HC Wainwright upgraded RAPT Therapeutics to a "strong-buy" rating and set a $6.00 price objective on the stock in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $3.00.

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.