Rapt Therapeutics (NASDAQ:RAPT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Rapt Therapeutics (NASDAQ:RAPT) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $50.50.

A number of equities analysts have weighed in on RAPT shares. Barclays cut their price target on shares of Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Wednesday, October 8th. Leerink Partners upgraded Rapt Therapeutics from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $16.00 to $37.00 in a report on Friday, September 26th. HC Wainwright upped their price target on Rapt Therapeutics from $27.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, Wells Fargo & Company set a $72.00 price objective on Rapt Therapeutics and gave the stock an “overweight” rating in a report on Monday, November 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RAPT. ADAR1 Capital Management LLC grew its stake in Rapt Therapeutics by 408.4% during the first quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company’s stock worth $7,284,000 after buying an additional 4,796,455 shares during the period. Nantahala Capital Management LLC lifted its holdings in shares of Rapt Therapeutics by 303.1% during the 1st quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock valued at $6,116,000 after acquiring an additional 3,769,414 shares in the last quarter. Boone Capital Management LLC purchased a new stake in Rapt Therapeutics during the 3rd quarter worth $20,180,000. AQR Capital Management LLC acquired a new stake in Rapt Therapeutics in the 1st quarter valued at $188,000. Finally, Invesco Ltd. acquired a new stake in Rapt Therapeutics in the 3rd quarter valued at $3,625,000. 99.09% of the stock is owned by institutional investors and hedge funds.

Rapt Therapeutics Price Performance

RAPT opened at $29.12 on Tuesday. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $42.39. The business has a 50-day moving average of $27.53 and a two-hundred day moving average of $16.08. The stock has a market capitalization of $806.92 million, a price-to-earnings ratio of -2.63 and a beta of 0.20.

Rapt Therapeutics (NASDAQ:RAPT) last released its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.23. Equities research analysts anticipate that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Rapt Therapeutics Company Profile

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the United States. The company's lead inflammation drug candidate is zelnecirnon (RPT193), a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.