Rapt Therapeutics (NASDAQ:RAPT) Short Interest Up 81.3% in January

Rapt Therapeutics (NASDAQ:RAPT) saw a significant increase in short interest in 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. Currently, 12.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,032,283 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 5,032,283 shares, the short-interest ratio is currently 0.6 days. Currently, 12.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

RAPT has been the topic of a number of research analyst reports. Wells Fargo & Company lowered Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a research report on Tuesday, January 20th. HC Wainwright lowered Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a research note on Tuesday, January 20th. Clear Str lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. lifted their price target on Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Finally, Lifesci Capital lowered shares of Rapt Therapeutics from an “outperform” rating to a “hold” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.44.

Institutional Investors Weigh In On Rapt Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Rapt Therapeutics in the 4th quarter valued at $46,000. Invesco Ltd. raised its holdings in Rapt Therapeutics by 411.7% during the 1st 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 period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Rapt Therapeutics during the fourth quarter worth $153,000. AQR Capital Management LLC bought a new position in Rapt Therapeutics during the 1st quarter worth about $188,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Rapt Therapeutics in the 4th quarter valued at about $227,000. 99.09% of the stock is owned by institutional investors and hedge funds.

Rapt Therapeutics Trading Down 0.2%

Rapt Therapeutics stock traded down $0.10 during mid-day trading on Friday, hitting $57.72. The stock had a trading volume of 12,076,886 shares, compared to its average volume of 5,566,726. The stock has a 50-day simple moving average of $43.09 and a two-hundred day simple moving average of $29.55. The stock has a market capitalization of $1.60 billion, a PE ratio of -5.22 and a beta of 0.47. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $57.86.

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.