Rapt Therapeutics (NASDAQ:RAPT) Cut to Hold at Clear Str

Clear Str downgraded shares of Rapt Therapeutics (NASDAQ:RAPT) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Lifesci Capital cut Rapt Therapeutics from an “outperform” rating to a “hold” rating in a report on Tuesday. Leerink Partners upgraded shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $16.00 to $37.00 in a research note on Friday, September 26th. TD Cowen cut shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company lowered 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. Finally, Barclays decreased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rapt Therapeutics presently has a consensus rating of “Hold” and an average target price of $48.44.

Rapt Therapeutics Stock Performance

NASDAQ:RAPT opened at $57.64 on Tuesday. The company has a 50-day moving average of $34.48 and a 200-day moving average of $24.19. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $57.71. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -5.21 and a beta of 0.45.

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

Institutional Trading of Rapt Therapeutics

Several hedge funds have recently modified their holdings of RAPT. Invesco Ltd. raised its position in Rapt Therapeutics by 411.7% in the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after purchasing an additional 47,391 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Rapt Therapeutics in the 1st quarter valued at $188,000. Dimensional Fund Advisors LP bought a new stake in shares of Rapt Therapeutics during the third quarter worth $231,000. Bridgeway Capital Management LLC lifted its stake in shares of Rapt Therapeutics by 32.0% during the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after acquiring an additional 5,000 shares during the period. Finally, UBS Group AG boosted its holdings in Rapt Therapeutics by 680.3% in the third quarter. UBS Group AG now owns 28,808 shares of the company’s stock valued at $743,000 after acquiring an additional 25,116 shares during the last quarter. 99.09% of the stock is owned by institutional investors.

Rapt Therapeutics News Roundup

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.