15 Worst 52-Week Low Stocks to Buy Now According to Short Sellers

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12. RAPT Therapeutics, Inc. (NASDAQ:RAPT)

52 Week Range: $1.77 – $27.35

Current Share Price: $1.93

Short % of Shares Outstanding: 9.48%

Number of Hedge Funds holding stakes as of Q2 2024: 23

RAPT Therapeutics, Inc. (NASDAQ:RAPT) is a clinical-stage immunology-based biopharmaceutical company that develops and commercializes oral small-molecule therapies for patients with unmet needs in oncology and inflammatory diseases. Its lead oncology drug candidate is tivumecirnon (FLX475 is in the Phase 1/2 clinical trial to investigate in patients with advanced cancer

Shares of RAPT Therapeutics, Inc. (NASDAQ:RAPT) have fallen following a halt of two of its clinical studies on an experimental treatment for inflammation following reports of liver failure in a participant. The U.S. Food and Drug Administration announcing a clinical hold on two studies of zelnecirnon, one focusing on atopic dermatitis and the other on asthma, has dealt a significant blow to the stock’s sentiments in the market.

The FDA halt could explain the 9.48% short interest rate on the stock as investors remain skeptical about the company’s future amid the setbacks in clinical trials. In addition to the clinical trials setback, Rapt Therapeutics is considered one of the worst 52-week low stocks to buy now, according to short sellers, as it remains unprofitable.

RAPT Therapeutics, Inc. (NASDAQ:RAPT)’s net loss in the second quarter totaled $0.71 a share, with the company on course to deliver a $2.70 share loss for the entire year. Given that the company faces uncertainty due to a clinical hold on Zelneciron, an essential asset in its pipeline, it will likely remain under pressure.

At the end of the second quarter of 2024, 23 hedge funds in the database of Insider Monkey held stakes worth $26.85 million in RAPT Therapeutics, Inc. (NASDAQ:RAPT), down from 26 in the previous quarter worth $68.32 million. Among the hedge funds being tracked by Insider Monkey, Kingdon Capital is a leading shareholder in RAPT Therapeutics, Inc. (NASDAQ:RAPT), with 1.73 million shares worth more than $5.26 million.

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