RAPT Therapeutics, Inc. (NASDAQ:RAPT) Sees Significant Increase in Short Interest

RAPT Therapeutics, Inc. (NASDAQ:RAPT - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 4,940,000 shares, an increase of 85.0% from the March 15th total of 2,670,000 shares. Currently, 15.1% of the shares of the company are short sold. Based on an average daily trading volume, of 852,200 shares, the days-to-cover ratio is currently 5.8 days.

Hedge Funds Weigh In On RAPT Therapeutics

A number of large investors have recently added to or reduced their stakes in RAPT. Simplicity Wealth LLC purchased a new stake in shares of RAPT Therapeutics during the first quarter worth about $25,000. Picton Mahoney Asset Management raised its position in shares of RAPT Therapeutics by 994.4% during the 4th quarter. Picton Mahoney Asset Management now owns 16,175 shares of the company's stock valued at $26,000 after buying an additional 14,697 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of RAPT Therapeutics by 298.2% in the 3rd 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 during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of RAPT Therapeutics during the fourth quarter valued at about $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 currently owned by institutional investors and hedge funds.

RAPT Therapeutics Stock Down 1.1 %

Shares of NASDAQ:RAPT traded down $0.01 during midday trading on Monday, reaching $0.78. The company's stock had a trading volume of 669,588 shares, compared to its average volume of 1,272,856. The stock has a fifty day moving average of $1.12 and a 200 day moving average of $1.35. The firm has a market capitalization of $103.23 million, a PE ratio of -0.28 and a beta of -0.29. RAPT Therapeutics has a twelve month low of $0.75 and a twelve month high of $8.58.

RAPT Therapeutics (NASDAQ:RAPT - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($1.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.69). Sell-side analysts anticipate that RAPT Therapeutics will post -2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and set a $10.00 price objective on shares of RAPT Therapeutics in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.00.

About RAPT Therapeutics

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.