Rapt Therapeutics (NASDAQ:RAPT) Sees Large Growth in Short Interest

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) was the recipient of a large 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. Based on an average trading volume of 5,032,283 shares, the short-interest ratio is presently 0.6 days. Currently, 12.5% of the shares of the company are short sold. Currently, 12.5% of the shares of the company are short sold. Based on an average trading volume of 5,032,283 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RAPT shares. Barclays lowered shares of Rapt Therapeutics from an "overweight" rating to an "equal weight" rating and set a $58.00 target price for the company. in a report on Wednesday, January 21st. Lifesci Capital cut Rapt Therapeutics from an "outperform" rating to a "hold" rating in a report on Tuesday, January 20th. Clear Str downgraded Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price objective on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an "overweight" rating in a report on Wednesday, November 12th. Finally, Guggenheim cut Rapt Therapeutics from a "buy" rating to a "neutral" rating in a report on Tuesday, January 20th. One 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $48.44.

Check Out Our Latest Stock Analysis on Rapt Therapeutics

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RAPT. Ameriprise Financial Inc. bought a new position in Rapt Therapeutics during the 3rd quarter worth about $1,326,000. Susquehanna International Group LLP grew its stake in Rapt Therapeutics by 173.4% during the 3rd quarter. Susquehanna International Group LLP now owns 45,382 shares of the company's stock worth $1,170,000 after buying an additional 28,782 shares during the last quarter. Millennium Management LLC raised its stake in Rapt Therapeutics by 75.2% in the 3rd quarter. Millennium Management LLC now owns 39,278 shares of the company's stock worth $1,013,000 after acquiring an additional 16,854 shares during the last quarter. UBS Group AG lifted its position in Rapt Therapeutics by 680.3% during the third quarter. UBS Group AG now owns 28,808 shares of the company's stock valued at $743,000 after purchasing an additional 25,116 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in Rapt Therapeutics by 32.0% during the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company's stock worth $532,000 after acquiring an additional 5,000 shares during the period. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

Rapt Therapeutics Trading Up 0.1%

Shares of NASDAQ:RAPT opened at $57.78 on Friday. The firm's 50-day moving average is $42.62 and its 200 day moving average is $29.11. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $57.86. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -5.22 and a beta of 0.47.

Rapt Therapeutics Company Profile

(Get Free Report)

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.

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