RAPT Therapeutics, Inc. (NASDAQ:RAPT) Short Interest Update

RAPT Therapeutics, Inc. (NASDAQ:RAPTGet Rating) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,170,000 shares, an increase of 53.9% from the April 30th total of 1,410,000 shares. Currently, 9.5% of the shares of the company are sold short. Based on an average trading volume of 312,500 shares, the short-interest ratio is currently 6.9 days.

RAPT Therapeutics stock traded up $1.16 during midday trading on Friday, reaching $14.58. The company had a trading volume of 255,146 shares, compared to its average volume of 461,689. RAPT Therapeutics has a 12-month low of $9.85 and a 12-month high of $43.26. The firm’s fifty day simple moving average is $17.85 and its 200-day simple moving average is $24.25.

RAPT Therapeutics (NASDAQ:RAPTGet Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.01). RAPT Therapeutics had a negative net margin of 2,263.55% and a negative return on equity of 37.82%. On average, sell-side analysts predict that RAPT Therapeutics will post -3.1 EPS for the current fiscal year.

Several equities research analysts have weighed in on the company. Roth Capital reaffirmed a “buy” rating on shares of RAPT Therapeutics in a research report on Wednesday, March 16th. HC Wainwright reaffirmed a “buy” rating and set a $56.00 price target on shares of RAPT Therapeutics in a research report on Monday, March 14th. Wells Fargo & Company dropped their target price on RAPT Therapeutics from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, March 11th. Piper Sandler dropped their target price on RAPT Therapeutics from $52.00 to $30.00 in a research report on Thursday, May 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of RAPT Therapeutics in a research report on Friday, April 1st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $52.25.

In other RAPT Therapeutics news, insider Dirk G. Brockstedt sold 2,647 shares of the stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $23.05, for a total transaction of $61,013.35. Following the sale, the insider now directly owns 19,812 shares of the company’s stock, valued at approximately $456,666.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dirk G. Brockstedt sold 2,648 shares of the stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $23.91, for a total value of $63,313.68. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,271,636 shares of company stock worth $13,592,335 and sold 12,015 shares worth $260,413. 5.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of RAPT. Perceptive Advisors LLC lifted its stake in RAPT Therapeutics by 19.6% in the 3rd quarter. Perceptive Advisors LLC now owns 2,907,565 shares of the company’s stock worth $90,280,000 after purchasing an additional 476,905 shares in the last quarter. Morgan Stanley lifted its stake in RAPT Therapeutics by 120.3% in the 3rd quarter. Morgan Stanley now owns 763,744 shares of the company’s stock worth $23,714,000 after purchasing an additional 417,015 shares in the last quarter. Atika Capital Management LLC purchased a new position in RAPT Therapeutics in the 4th quarter worth approximately $7,724,000. Dupont Capital Management Corp purchased a new position in RAPT Therapeutics in the 4th quarter worth approximately $209,000. Finally, Franklin Resources Inc. purchased a new position in RAPT Therapeutics in the 3rd quarter worth approximately $394,000. 95.22% of the stock is currently owned by hedge funds and other institutional investors.

RAPT Therapeutics Company Profile (Get Rating)

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 inflammation drug candidate is RPT193, a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.

Featured Articles

Receive News & Ratings for RAPT Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RAPT Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.