Short Interest in Rapt Therapeutics (NASDAQ:RAPT) Drops By 30.5%

Rapt Therapeutics (NASDAQ:RAPT) was the recipient of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 2,242,149 shares, a drop of 30.5% from the January 29th total of 3,224,474 shares. Based on an average daily volume of 6,988,954 shares, the short-interest ratio is presently 0.3 days. Approximately 8.7% of the company’s shares are sold short. Approximately 8.7% of the company’s shares are sold short. Based on an average daily volume of 6,988,954 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Rapt Therapeutics

A number of institutional investors have recently modified their holdings of RAPT. Invesco Ltd. increased its position in shares of Rapt Therapeutics by 18.8% in the fourth quarter. Invesco Ltd. now owns 167,030 shares of the company’s stock worth $5,657,000 after acquiring an additional 26,486 shares in the last quarter. ADAR1 Capital Management LLC grew its position in Rapt Therapeutics by 0.4% during the fourth quarter. ADAR1 Capital Management LLC now owns 509,679 shares of the company’s stock worth $17,263,000 after buying an additional 1,908 shares in the last quarter. XTX Topco Ltd bought a new position in Rapt Therapeutics during the 4th quarter valued at about $616,000. Voloridge Investment Management LLC bought a new position in shares of Rapt Therapeutics in the fourth quarter worth about $233,000. Finally, Virtus Investment Advisers LLC bought a new stake in shares of Rapt Therapeutics in the 4th quarter valued at about $245,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

Rapt Therapeutics Stock Up 0.0%

RAPT traded up $0.02 on Friday, reaching $57.98. The company had a trading volume of 902,488 shares, compared to its average volume of 4,145,211. The stock has a 50-day moving average price of $47.72 and a 200-day moving average price of $32.87. The stock has a market capitalization of $1.61 billion, a PE ratio of -5.24 and a beta of 0.47. Rapt Therapeutics has a 1 year low of $5.67 and a 1 year high of $57.99.

Wall Street Analyst Weigh In

RAPT has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Barclays lowered 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 report on Wednesday, January 21st. TD Cowen lowered Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Lifesci Capital downgraded Rapt Therapeutics from an “outperform” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Piper Sandler lowered Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rapt Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $48.44.

Rapt Therapeutics Company Profile

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.