RAPT Therapeutics, Inc. (NASDAQ:RAPT) Receives Average Rating of “Hold” from Analysts

RAPT Therapeutics, Inc. (NASDAQ:RAPT) has received an average rating of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $9.56.

RAPT has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Stifel Nicolaus reissued a “hold” rating and set a $2.00 price objective (down from $7.00) on shares of RAPT Therapeutics in a research note on Wednesday, November 13th. Piper Sandler lowered RAPT Therapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $8.00 to $2.00 in a research report on Monday, November 11th. HC Wainwright upgraded RAPT Therapeutics from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Thursday, December 26th. Finally, Wells Fargo & Company reduced their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th.

RAPT Therapeutics Stock Performance

Shares of RAPT opened at $1.18 on Wednesday. RAPT Therapeutics has a 1 year low of $0.79 and a 1 year high of $27.35. The company’s 50 day simple moving average is $1.25 and its 200 day simple moving average is $1.90. The company has a market capitalization of $41.25 million and a price-to-earnings ratio of -0.43.

RAPT Therapeutics (NASDAQ:RAPT) last released its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.09. Equities analysts expect that RAPT Therapeutics will post -2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On RAPT Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Medicxi Ventures Management Jersey Ltd purchased a new position in shares of RAPT Therapeutics during the 4th quarter valued at approximately $35,316,000. Point72 Asset Management L.P. boosted its stake in RAPT Therapeutics by 176,725.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after acquiring an additional 706,900 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in RAPT Therapeutics by 826.4% during 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. Renaissance Technologies LLC increased its position in shares of RAPT Therapeutics by 108.1% in the 2nd quarter. Renaissance Technologies LLC now owns 203,900 shares of the company’s stock worth $622,000 after purchasing an additional 105,900 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of RAPT Therapeutics by 138.1% during the third quarter. Los Angeles Capital Management LLC now owns 201,439 shares of the company’s stock worth $405,000 after purchasing an additional 116,853 shares during 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.