Short Interest in Rapt Therapeutics (NASDAQ:RAPT) Drops By 40.2%

Rapt Therapeutics (NASDAQ:RAPT) saw a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 1,340,164 shares, a decline of 40.2% from the February 12th total of 2,242,149 shares. Based on an average trading volume of 964,859 shares, the days-to-cover ratio is currently 1.4 days. Approximately 5.0% of the shares of the company are short sold. Approximately 5.0% of the shares of the company are short sold. Based on an average trading volume of 964,859 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

Several research firms have recently weighed in on RAPT. TD Cowen lowered shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of Rapt Therapeutics to a “hold” rating in a research report on Saturday, March 7th. Barclays cut shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective for the company. in a report on Wednesday, January 21st. Clear Str downgraded shares of Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Thursday, January 22nd. One 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 stock. Based on data from MarketBeat, Rapt Therapeutics presently has an average rating of “Hold” and an average target price of $48.44.

Hedge Funds Weigh In On Rapt Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Rapt Therapeutics in the fourth quarter valued at approximately $46,000. Invesco Ltd. boosted its stake in Rapt Therapeutics by 411.7% during the first quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after buying an additional 47,391 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Rapt Therapeutics during the fourth quarter worth $153,000. AQR Capital Management LLC purchased a new stake in Rapt Therapeutics in the 1st quarter valued at $188,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Rapt Therapeutics in the 4th quarter worth $227,000. 99.09% of the stock is currently owned by institutional investors and hedge funds.

Rapt Therapeutics Stock Performance

Shares of RAPT stock remained flat at $58.02 during trading hours on Friday. The firm has a market capitalization of $1.61 billion, a PE ratio of -5.25 and a beta of 0.49. The firm has a 50-day simple moving average of $52.37 and a two-hundred day simple moving average of $35.98. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $58.02.

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.