Boone Capital Management LLC Acquires New Stake in Rapt Therapeutics $RAPT

Boone Capital Management LLC acquired a new stake in Rapt Therapeutics (NASDAQ:RAPT) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 782,461 shares of the company’s stock, valued at approximately $20,180,000. Rapt Therapeutics comprises about 6.6% of Boone Capital Management LLC’s holdings, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of RAPT. Invesco Ltd. bought a new stake in shares of Rapt Therapeutics during the third quarter worth $3,625,000. SummitTX Capital L.P. bought a new position in shares of Rapt Therapeutics in the third quarter worth about $2,370,000. Ameriprise Financial Inc. purchased a new position in Rapt Therapeutics in the 3rd quarter worth about $1,326,000. UBS Group AG increased its stake 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 buying an additional 25,116 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in 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 buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics Stock Performance

Shares of RAPT opened at $58.02 on Friday. The company has a 50 day moving average price of $52.37 and a 200-day moving average price of $36.15. Rapt Therapeutics has a fifty-two week low of $5.67 and a fifty-two week high of $58.02. The stock has a market capitalization of $1.61 billion, a PE ratio of -5.25 and a beta of 0.49.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RAPT shares. Lifesci Capital downgraded shares of Rapt Therapeutics from an “outperform” rating to a “hold” rating in a research note on Tuesday, January 20th. Piper Sandler lowered Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target for the company. in a report on Tuesday, January 20th. Guggenheim cut Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 20th. Barclays downgraded Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective on the stock. in a report on Wednesday, January 21st. Finally, Wells Fargo & Company cut Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a report on Tuesday, January 20th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, Rapt Therapeutics has an average rating of “Hold” and a consensus target price of $48.44.

Rapt Therapeutics 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.