HC Wainwright Reaffirms “Neutral” Rating for RAPT Therapeutics (NASDAQ:RAPT)

RAPT Therapeutics (NASDAQ:RAPT)‘s stock had its “neutral” rating reaffirmed by HC Wainwright in a research note issued to investors on Monday,Benzinga reports.

A number of other research analysts also recently weighed in on the company. UBS Group cut their price target on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Wells Fargo & Company dropped their target price on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Stifel Nicolaus reiterated a “hold” rating and issued a $2.00 price objective (down from $7.00) on shares of RAPT Therapeutics in a report on Wednesday, November 13th. Finally, Piper Sandler lowered RAPT Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $8.00 to $2.00 in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, RAPT Therapeutics has a consensus rating of “Hold” and an average target price of $9.50.

RAPT Therapeutics Stock Performance

NASDAQ:RAPT opened at $1.12 on Monday. The company has a market cap of $39.16 million, a price-to-earnings ratio of -0.40 and a beta of 0.33. The stock’s fifty day moving average price is $1.81 and its two-hundred day moving average price is $2.62. RAPT Therapeutics has a 52-week low of $1.00 and a 52-week high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.09. On average, equities analysts predict that RAPT Therapeutics will post -2.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its stake in shares of RAPT Therapeutics by 176,725.0% in the second quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after buying an additional 706,900 shares during the period. Federated Hermes Inc. grew its holdings in RAPT Therapeutics by 188.7% during the 2nd quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock worth $2,428,000 after acquiring an additional 520,368 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of RAPT Therapeutics by 4,183.3% in the second quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock valued at $1,424,000 after buying an additional 456,275 shares during the period. Vanguard Group Inc. increased its position in shares of RAPT Therapeutics by 21.2% during the first quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock worth $22,386,000 after buying an additional 436,629 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of RAPT Therapeutics by 826.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after acquiring an additional 263,372 shares in the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.

About RAPT Therapeutics

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the United States. The company's lead inflammation drug candidate is zelnecirnon (RPT193), a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.