Rapt Therapeutics (NASDAQ:RAPT) Given Average Recommendation of “Moderate Buy” by Brokerages

Rapt Therapeutics (NASDAQ:RAPT) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $50.50.

Several equities analysts have issued reports on the company. TD Cowen began coverage on Rapt Therapeutics in a research note on Thursday, December 18th. They issued a “buy” rating on the stock. Barclays lowered their price objective on shares of Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Guggenheim initiated coverage on shares of Rapt Therapeutics in a research note on Monday, October 27th. They set a “buy” rating and a $70.00 target price on the stock. Cowen assumed coverage on shares of Rapt Therapeutics in a research note on Thursday, December 18th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th.

Rapt Therapeutics Stock Down 1.2%

RAPT stock opened at $35.42 on Friday. The firm has a market cap of $981.49 million, a price-to-earnings ratio of -3.20 and a beta of 0.43. The company’s fifty day simple moving average is $31.70 and its 200 day simple moving average is $20.39. Rapt Therapeutics has a 12-month low of $5.67 and a 12-month high of $42.39.

Rapt Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.23. Research analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Institutional Investors Weigh In On Rapt Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Velan Capital Investment Management LP acquired a new position in shares of Rapt Therapeutics during the third quarter worth approximately $2,063,000. Susquehanna International Group LLP grew its position in Rapt Therapeutics by 173.4% in the 3rd quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock valued at $1,170,000 after purchasing an additional 28,782 shares during the period. Millennium Management LLC increased its stake 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 in the last quarter. Boone Capital Management LLC acquired a new position in Rapt Therapeutics during the third quarter worth $20,180,000. Finally, Ameriprise Financial Inc. acquired a new position in Rapt Therapeutics during the third quarter worth $1,326,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

About Rapt Therapeutics

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.