Rapt Therapeutics (NASDAQ:RAPT) Receives Average Recommendation of “Hold” from Analysts

Shares of Rapt Therapeutics (NASDAQ:RAPT) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $48.4444.

RAPT has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Rapt Therapeutics to a “hold” rating in a report on Saturday, March 7th. Piper Sandler lowered shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 target price on the stock. in a report on Tuesday, January 20th. Wells Fargo & Company cut shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Thursday, January 22nd. Finally, Clear Str cut shares of Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th.

Institutional Investors Weigh In On Rapt Therapeutics

Several large investors have recently modified their holdings of RAPT. Fcpm Iii Services B.V. raised its position in shares of Rapt Therapeutics by 432.6% during the fourth quarter. Fcpm Iii Services B.V. now owns 1,833,333 shares of the company’s stock worth $62,095,000 after purchasing an additional 1,489,096 shares during the period. Orbimed Advisors LLC grew its position in shares of Rapt Therapeutics by 51.2% in the 4th quarter. Orbimed Advisors LLC now owns 1,642,891 shares of the company’s stock valued at $55,645,000 after purchasing an additional 556,273 shares during the period. RTW Investments LP increased its stake in Rapt Therapeutics by 11.3% during the 4th quarter. RTW Investments LP now owns 1,637,165 shares of the company’s stock worth $55,451,000 after purchasing an additional 166,666 shares in the last quarter. Siren L.L.C. increased its stake in Rapt Therapeutics by 136.9% during the 4th quarter. Siren L.L.C. now owns 1,375,000 shares of the company’s stock worth $46,571,000 after purchasing an additional 794,534 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new stake in Rapt Therapeutics during the 4th quarter worth approximately $33,305,000. 99.09% of the stock is currently owned by institutional investors.

Rapt Therapeutics Price Performance

Shares of RAPT stock opened at $58.02 on Monday. The stock has a market cap of $1.61 billion, a PE ratio of -5.25 and a beta of 0.49. The stock has a 50-day moving average of $57.41 and a 200-day moving average of $39.54. Rapt Therapeutics has a one year low of $5.67 and a one year high of $58.02.

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.