Rapt Therapeutics (NASDAQ:RAPT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Rapt Therapeutics (NASDAQ:RAPT) have been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $55.4444.

A number of analysts have issued reports on RAPT shares. Guggenheim initiated coverage on shares of Rapt Therapeutics in a research note on Monday, October 27th. They set a “buy” rating and a $70.00 price target on the stock. Barclays cut 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. TD Cowen initiated coverage on shares of Rapt Therapeutics in a report on Thursday, December 18th. They set a “buy” rating on the stock. Leerink Partnrs upgraded shares of Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Finally, Piper Sandler initiated coverage on Rapt Therapeutics in a research report on Friday. They set an “overweight” rating and a $95.00 price objective on the stock.

Hedge Funds Weigh In On Rapt Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Velan Capital Investment Management LP acquired a new position in shares of Rapt Therapeutics during the third quarter worth about $2,063,000. Susquehanna International Group LLP lifted its stake in Rapt Therapeutics by 173.4% in the third 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 lifted its stake in Rapt Therapeutics by 75.2% in the third quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock worth $1,013,000 after acquiring an additional 16,854 shares during the last quarter. Boone Capital Management LLC acquired a new position in Rapt Therapeutics during the 3rd quarter worth approximately $20,180,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Rapt Therapeutics in the 3rd quarter valued at approximately $1,326,000. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics Stock Down 1.0%

RAPT opened at $34.06 on Wednesday. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $42.39. The business has a fifty day simple moving average of $32.31 and a 200-day simple moving average of $22.63. The firm has a market cap of $943.80 million, a P/E ratio of -3.08 and a beta of 0.45.

Rapt Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.23. Sell-side analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Rapt Therapeutics Company Profile

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.