Rapt Therapeutics (NASDAQ:RAPT) Hits New 52-Week High – Time to Buy?

Shares of Rapt Therapeutics (NASDAQ:RAPT) reached a new 52-week high on Monday . The company traded as high as $58.00 and last traded at $57.9950, with a volume of 1827566 shares trading hands. The stock had previously closed at $57.98.

Analysts Set New Price Targets

Several research firms have recently commented on RAPT. Guggenheim downgraded Rapt Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, January 20th. Piper Sandler lowered shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Tuesday, January 20th. HC Wainwright downgraded shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 price objective for the company. in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Rapt Therapeutics from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.44.

Rapt Therapeutics Stock Performance

The firm has a market cap of $1.61 billion, a P/E ratio of -5.24 and a beta of 0.49. The firm’s fifty day moving average is $47.72 and its 200 day moving average is $33.03.

Hedge Funds Weigh In On Rapt Therapeutics

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Rapt Therapeutics during the 4th quarter worth approximately $46,000. ADAR1 Capital Management LLC lifted its holdings in shares of Rapt Therapeutics by 0.4% during the fourth quarter. ADAR1 Capital Management LLC now owns 509,679 shares of the company’s stock worth $17,263,000 after buying an additional 1,908 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Rapt Therapeutics in the fourth quarter valued at about $153,000. Bridgeway Capital Management LLC grew its stake in shares of Rapt Therapeutics by 32.0% in the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Bank of Nova Scotia bought a new position in Rapt Therapeutics during the fourth quarter worth about $227,000. Institutional investors 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.