Rapt Therapeutics (NASDAQ:RAPT) Stock Rating Lowered by Barclays

Rapt Therapeutics (NASDAQ:RAPT) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $58.00 price objective on the stock. Barclays‘s price objective points to a potential upside of 0.62% from the stock’s current price.

RAPT has been the topic of a number of other research reports. Piper Sandler downgraded Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Tuesday. Wells Fargo & Company lowered Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 target price on the stock. in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Wednesday, October 8th. Lifesci Capital cut shares of Rapt Therapeutics from an “outperform” rating to a “hold” rating in a research report on Tuesday. Finally, Guggenheim downgraded shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.44.

Rapt Therapeutics Trading Up 0.1%

Shares of RAPT opened at $57.64 on Wednesday. The company’s fifty day simple moving average is $34.48 and its 200 day simple moving average is $24.19. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $57.71. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -5.21 and a beta of 0.45.

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, research analysts forecast that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Hedge Funds Weigh In On Rapt Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RAPT. Invesco Ltd. acquired a new stake in shares of Rapt Therapeutics during the 3rd quarter worth $3,625,000. SummitTX Capital L.P. bought a new stake in Rapt Therapeutics during the third quarter worth about $2,370,000. Velan Capital Investment Management LP bought a new stake in Rapt Therapeutics during the third quarter worth about $2,063,000. Ameriprise Financial Inc. acquired a new stake in Rapt Therapeutics during the third quarter worth about $1,326,000. Finally, Susquehanna International Group LLP increased its holdings in Rapt Therapeutics by 173.4% in the 3rd quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock valued at $1,170,000 after buying an additional 28,782 shares during the period. Institutional investors own 99.09% of the company’s stock.

More Rapt Therapeutics News

Here are the key news stories impacting Rapt Therapeutics this week:

• Positive Sentiment: GSK agreed to acquire Rapt for $58.00 in cash, valuing the deal at about $2.2 billion — this is the main positive driver behind the stock’s rally because it sets a definitive cash exit price that values RAPT well above prior levels. Article Title
• Neutral Sentiment: Wells Fargo reaffirmed an Equal Weight rating on RAPT — this maintains a neutral broker view and does not materially change the takeout valuation dynamic. Article Title
• Negative Sentiment: Multiple research firms cut or lowered ratings after the deal news (HC Wainwright downgraded to Neutral; Lifesci Capital lowered to Hold; Barclays cut to Equal Weight with a $58 target; Clear Street/others moved to Hold/Market Perform). Downgrades typically reduce near-term upside from additional analyst-driven buying. Article Title
• Negative Sentiment: An investor class‑action/representation firm (Kahn Swick & Foti) opened an investigation into whether the $58 per‑share consideration and the sale process are adequate — this introduces legal/transactional scrutiny that could delay closing or generate litigation costs/settlement risk. Article Title

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.