Brokerages Set Rapt Therapeutics (NASDAQ:RAPT) PT at $48.44

Shares of Rapt Therapeutics (NASDAQ:RAPT) have been assigned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $48.4444.

A number of equities analysts have commented on RAPT shares. TD Cowen lowered Rapt Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wall Street Zen raised Rapt Therapeutics to a “hold” rating in a report on Saturday. Clear Str downgraded shares of Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Lifesci Capital lowered shares of Rapt Therapeutics from an “outperform” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RAPT. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Rapt Therapeutics in the 4th quarter valued at $46,000. Invesco Ltd. increased its position in Rapt Therapeutics by 411.7% in the first quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after purchasing an additional 47,391 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in Rapt Therapeutics during the 4th quarter worth about $153,000. AQR Capital Management LLC acquired a new position in Rapt Therapeutics during the 1st quarter valued at about $188,000. Finally, Bank of Nova Scotia acquired a new position in Rapt Therapeutics during the 4th quarter valued at about $227,000. 99.09% of the stock is currently owned by institutional investors.

Rapt Therapeutics Stock Performance

NASDAQ:RAPT opened at $58.02 on Thursday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -5.25 and a beta of 0.49. Rapt Therapeutics has a 1 year low of $5.67 and a 1 year high of $58.02. The firm has a 50 day moving average of $49.94 and a 200-day moving average of $34.51.

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.