Rapt Therapeutics (NASDAQ:RAPT) Stock Rating Upgraded by Wall Street Zen

Rapt Therapeutics (NASDAQ:RAPT) was upgraded by Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

RAPT has been the subject of a number of other research reports. Guggenheim lowered Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. upped their target price on Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Thursday, January 22nd. Piper Sandler lowered shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target for the company. in a research note on Tuesday, January 20th. Finally, Wells Fargo & Company cut shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rapt Therapeutics has a consensus rating of “Hold” and an average target price of $48.44.

Rapt Therapeutics Price Performance

Shares of Rapt Therapeutics stock opened at $58.02 on Friday. The business has a 50-day moving average of $49.94 and a 200-day moving average of $34.34. The company has a market capitalization of $1.61 billion, a PE 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.

Institutional Trading of Rapt Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its position in shares of Rapt Therapeutics by 18.8% in the 4th quarter. Invesco Ltd. now owns 167,030 shares of the company’s stock worth $5,657,000 after buying an additional 26,486 shares during the last quarter. ADAR1 Capital Management LLC raised its stake in 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 acquiring an additional 1,908 shares during the period. XTX Topco Ltd bought a new position in Rapt Therapeutics in the fourth quarter worth about $616,000. Voloridge Investment Management LLC acquired a new position in Rapt Therapeutics in the fourth quarter valued at approximately $233,000. Finally, Virtus Investment Advisers LLC bought a new position in shares of Rapt Therapeutics during the fourth quarter valued at approximately $245,000. 99.09% of the stock is owned by institutional investors and hedge funds.

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.