Rapt Therapeutics (NASDAQ:RAPT) Trading 9.8% Higher – What’s Next?

Shares of Rapt Therapeutics (NASDAQ:RAPT) traded up 9.8% during mid-day trading on Monday . The company traded as high as $37.37 and last traded at $37.1240. 81,871 shares were traded during trading, a decline of 62% from the average session volume of 218,150 shares. The stock had previously closed at $33.81.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company set a $72.00 price target on Rapt Therapeutics and gave the stock an “overweight” rating in a report on Monday, November 3rd. Cowen started coverage on Rapt Therapeutics in a research note on Thursday. They issued a “buy” rating for the company. JPMorgan Chase & Co. lifted their target price on Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Wall Street Zen raised shares of Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Leerink Partners raised shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $16.00 to $37.00 in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Rapt Therapeutics Trading Up 8.9%

The company has a market capitalization of $1.02 billion, a PE ratio of -3.27 and a beta of 0.43. The stock has a fifty day moving average of $30.86 and a two-hundred day moving average of $19.60.

Rapt Therapeutics (NASDAQ:RAPT) last issued its earnings results 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. Equities analysts forecast that Rapt Therapeutics will post -2.14 EPS for the current year.

Institutional Trading of Rapt Therapeutics

Several large investors have recently modified their holdings of RAPT. Comerica Bank grew its position in shares of Rapt Therapeutics by 53.9% in the 1st quarter. Comerica Bank now owns 89,327 shares of the company’s stock worth $109,000 after buying an additional 31,287 shares during the last quarter. Boone Capital Management LLC purchased a new stake in Rapt Therapeutics in the third quarter worth $20,180,000. Velan Capital Investment Management LP purchased a new stake in Rapt Therapeutics in the third quarter worth $2,063,000. Susquehanna International Group LLP boosted its holdings in Rapt Therapeutics by 173.4% in the third quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock valued at $1,170,000 after acquiring an additional 28,782 shares in the last quarter. Finally, Millennium Management LLC increased its position in Rapt Therapeutics by 75.2% during the 3rd quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock valued at $1,013,000 after purchasing an additional 16,854 shares during the period. 99.09% of the stock is owned by institutional investors.

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.