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

Rapt Therapeutics (NASDAQ:RAPT) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $50.50.

Several equities research analysts have recently issued reports on RAPT shares. Zacks Research lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Cowen assumed coverage on Rapt Therapeutics in a report on Thursday. They set a “buy” rating on the stock. Guggenheim assumed coverage on shares of Rapt Therapeutics in a research note on Monday, October 27th. They set a “buy” rating and a $70.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Wednesday, October 8th. Finally, Barclays reduced their target price 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.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Velan Capital Investment Management LP bought a new position in shares of Rapt Therapeutics during the third quarter valued at approximately $2,063,000. Susquehanna International Group LLP lifted its stake in shares of Rapt Therapeutics by 173.4% during the 3rd quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock worth $1,170,000 after acquiring an additional 28,782 shares during the last quarter. Millennium Management LLC boosted its holdings in Rapt Therapeutics by 75.2% during the 3rd quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock valued at $1,013,000 after acquiring an additional 16,854 shares during the period. Boone Capital Management LLC bought a new position in Rapt Therapeutics in the 3rd quarter valued at $20,180,000. Finally, Ameriprise Financial Inc. bought a new position in Rapt Therapeutics in the 3rd quarter valued at $1,326,000. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics Stock Down 0.7%

Rapt Therapeutics stock opened at $33.81 on Friday. The company’s 50-day moving average price is $30.86 and its 200-day moving average price is $19.44. The company has a market cap of $936.88 million, a PE ratio of -3.06 and a beta of 0.43. Rapt Therapeutics has a twelve month low of $5.67 and a twelve month high of $42.39.

Rapt Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.23. As a group, sell-side analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

About Rapt Therapeutics

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.