Rapt Therapeutics (NASDAQ:RAPT) Price Target Raised to $57.00

Rapt Therapeutics (NASDAQ:RAPT) had its price target boosted by JPMorgan Chase & Co. from $55.00 to $57.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Leerink Partnrs raised Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Barclays decreased their price objective on Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Lifesci Capital raised Rapt Therapeutics to a “strong-buy” rating and set a $31.00 target price for the company in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of Rapt Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rapt Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Rapt Therapeutics Price Performance

Shares of Rapt Therapeutics stock opened at $28.85 on Wednesday. Rapt Therapeutics has a 1 year low of $5.67 and a 1 year high of $42.39. The firm has a market cap of $799.43 million, a PE ratio of -2.61 and a beta of 0.20. The company has a 50 day simple moving average of $25.96 and a two-hundred day simple moving average of $15.07.

Rapt Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.23. As a group, research analysts anticipate that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank boosted its position in Rapt Therapeutics by 53.9% during the 1st quarter. Comerica Bank now owns 89,327 shares of the company’s stock valued at $109,000 after buying an additional 31,287 shares during the period. SummitTX Capital L.P. bought a new position in Rapt Therapeutics during the 3rd quarter valued at approximately $2,370,000. UBS Group AG lifted its holdings in Rapt Therapeutics by 680.3% in the 3rd quarter. UBS Group AG now owns 28,808 shares of the company’s stock worth $743,000 after buying an additional 25,116 shares during the period. Bridgeway Capital Management LLC increased 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 buying an additional 5,000 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in shares of Rapt Therapeutics during the third quarter valued at approximately $231,000. Institutional investors 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.