Rapt Therapeutics (NASDAQ:RAPT) Receives $48.44 Average PT from Analysts

Shares of Rapt Therapeutics (NASDAQ:RAPT) have earned an average rating of “Hold” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $48.4444.

RAPT has been the subject of a number of recent analyst reports. HC Wainwright cut 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. Clear Str cut Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wells Fargo & Company lowered Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a research note on Tuesday, January 20th. Guggenheim downgraded shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Thursday, January 22nd.

Hedge Funds Weigh In On Rapt Therapeutics

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of 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 last quarter. AQR Capital Management LLC acquired a new position in shares of Rapt Therapeutics in the 1st quarter valued at about $188,000. Dimensional Fund Advisors LP purchased a new position in Rapt Therapeutics during the third quarter valued at approximately $231,000. UBS Group AG boosted its position in Rapt Therapeutics by 680.3% in the 3rd quarter. UBS Group AG now owns 28,808 shares of the company’s stock worth $743,000 after purchasing an additional 25,116 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Rapt Therapeutics by 32.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after purchasing an additional 5,000 shares in the last quarter. 99.09% of the stock is owned by institutional investors and hedge funds.

Rapt Therapeutics Stock Up 0.2%

Shares of RAPT opened at $57.82 on Friday. The company has a 50 day moving average of $42.62 and a two-hundred day moving average of $29.11. Rapt Therapeutics has a twelve month low of $5.67 and a twelve month high of $57.86. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -5.23 and a beta of 0.47.

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.