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


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RAPT Therapeutics, Inc. (NASDAQ:RAPT) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,160,000 shares, an increase of 27.6% from the March 31st total of 908,900 shares. Approximately 7.2% of the company’s stock are sold short. Based on an average daily volume of 143,400 shares, the short-interest ratio is currently 8.1 days.

A number of hedge funds and other institutional investors have recently made changes to their positions in RAPT. Schonfeld Strategic Advisors LLC grew its position in RAPT Therapeutics by 339.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 249,531 shares of the company’s stock valued at $8,036,000 after buying an additional 192,789 shares during the period. William Marsh Rice University bought a new position in shares of RAPT Therapeutics in the fourth quarter worth approximately $281,000. Swiss National Bank bought a new position in shares of RAPT Therapeutics in the fourth quarter worth approximately $711,000. BlackRock Inc. boosted its position in shares of RAPT Therapeutics by 16.4% in the fourth quarter. BlackRock Inc. now owns 1,383,981 shares of the company’s stock worth $27,335,000 after purchasing an additional 194,538 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of RAPT Therapeutics by 57.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,776 shares of the company’s stock worth $925,000 after purchasing an additional 17,027 shares during the period. Institutional investors own 65.02% of the company’s stock.

Separately, HC Wainwright lifted their target price on shares of RAPT Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, March 18th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.40.

RAPT Therapeutics stock traded down $0.13 during trading hours on Tuesday, hitting $21.91. The stock had a trading volume of 91,223 shares, compared to its average volume of 146,785. The stock’s 50-day moving average price is $21.89 and its 200-day moving average price is $22.73. The stock has a market capitalization of $544.86 million, a P/E ratio of -8.63 and a beta of -0.03. RAPT Therapeutics has a 12-month low of $14.09 and a 12-month high of $41.86.

RAPT Therapeutics (NASDAQ:RAPT) last announced its earnings results on Thursday, March 11th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.06. The business had revenue of $1.30 million for the quarter, compared to the consensus estimate of $2.05 million. As a group, equities analysts forecast that RAPT Therapeutics will post -2.18 earnings per share for the current fiscal year.

About RAPT Therapeutics

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovering, developing, and commercializing oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases. Its lead oncology drug candidate is FLX475, an oral small molecule C-C motif chemokine receptor 4 antagonist that is in the Phase 1/2 clinical trial to investigate as a monotherapy and in combination with pembrolizumab in patients with advanced cancer.

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