Rapt Therapeutics (NASDAQ:RAPT) Short Interest Update

Rapt Therapeutics (NASDAQ:RAPT) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 3,224,474 shares, a growth 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 currently 0.6 days. Approximately 12.5% of the shares of the stock are short sold. Approximately 12.5% of the shares of the stock are short sold. Based on an average trading volume of 5,032,283 shares, the short-interest ratio is currently 0.6 days.

Analyst Ratings Changes

A number of research firms recently issued reports on RAPT. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Thursday, January 22nd. Clear Str lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. TD Cowen lowered Rapt Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. 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. Finally, Wells Fargo & Company downgraded shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective on the stock. in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.44.

Rapt Therapeutics Price Performance

NASDAQ RAPT opened at $57.78 on Friday. The company has a market capitalization of $1.60 billion, a P/E ratio of -5.22 and a beta of 0.47. The business has a 50 day moving average price of $42.62 and a 200 day moving average price of $29.11. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $57.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in Rapt Therapeutics by 411.7% during the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock valued at $72,000 after purchasing an additional 47,391 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Rapt Therapeutics during the 1st quarter worth about $188,000. Dimensional Fund Advisors LP purchased a new position in shares of Rapt Therapeutics in the third quarter worth approximately $231,000. UBS Group AG raised its holdings in shares of 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 acquiring an additional 25,116 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in shares of Rapt Therapeutics by 32.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after acquiring an additional 5,000 shares in the last quarter. 99.09% of the stock is currently owned by institutional investors.

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.