Rapt Therapeutics (NASDAQ:RAPT) Receives Average Rating of “Hold” from Brokerages

Shares of Rapt Therapeutics (NASDAQ:RAPT) have earned an average rating of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $48.4444.

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. HC Wainwright cut shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 target price for the company. in a report on Tuesday, January 20th. TD Cowen downgraded shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Guggenheim downgraded Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 20th. Finally, Clear Str lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th.

Rapt Therapeutics Price Performance

Shares of NASDAQ RAPT opened at $58.02 on Thursday. The business’s 50 day moving average price is $49.05 and its 200 day moving average price is $33.85. The firm has a market cap of $1.61 billion, a P/E ratio of -5.25 and a beta of 0.49. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $58.02.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Rapt Therapeutics in the 4th quarter worth approximately $46,000. ADAR1 Capital Management LLC lifted its stake in shares of Rapt Therapeutics by 0.4% in the 4th quarter. ADAR1 Capital Management LLC now owns 509,679 shares of the company’s stock valued at $17,263,000 after purchasing an additional 1,908 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Rapt Therapeutics during the fourth quarter worth $153,000. Bridgeway Capital Management LLC boosted its holdings in Rapt Therapeutics by 32.0% during the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock worth $532,000 after buying an additional 5,000 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in Rapt Therapeutics during the fourth quarter valued at $227,000. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

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.