Rapt Therapeutics (NASDAQ:RAPT) Earns “Neutral” Rating from HC Wainwright

Rapt Therapeutics (NASDAQ:RAPT)‘s stock had its “neutral” rating reaffirmed by stock analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $58.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 0.84% from the stock’s previous close.

A number of other research analysts also recently commented on RAPT. Guggenheim downgraded Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday. Wells Fargo & Company set a $72.00 target price on shares of Rapt Therapeutics and gave the company an “overweight” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Finally, Cowen assumed coverage on Rapt Therapeutics in a report on Thursday, December 18th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.78.

Rapt Therapeutics Price Performance

Rapt Therapeutics stock traded up $22.42 during midday trading on Tuesday, hitting $57.52. The company’s stock had a trading volume of 24,786,988 shares, compared to its average volume of 2,291,210. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $57.61. The company has a 50-day moving average price of $32.75 and a two-hundred day moving average price of $23.37. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -5.20 and a beta of 0.45.

Rapt Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.23. Sell-side analysts forecast that Rapt Therapeutics will post -2.14 EPS for the current year.

Hedge Funds Weigh In On Rapt Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RAPT. Velan Capital Investment Management LP acquired a new stake in Rapt Therapeutics during the 3rd quarter worth about $2,063,000. Susquehanna International Group LLP increased 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 worth $1,170,000 after purchasing an additional 28,782 shares in the last quarter. Millennium Management LLC lifted its stake in Rapt Therapeutics by 75.2% in the third quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock valued at $1,013,000 after buying an additional 16,854 shares during the period. Boone Capital Management LLC bought a new position in shares of Rapt Therapeutics during the 3rd quarter worth approximately $20,180,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Rapt Therapeutics during the 3rd quarter worth approximately $1,326,000. 99.09% of the stock is currently owned by institutional investors and hedge funds.

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.