RAPT Therapeutics (NASDAQ:RAPT) Price Target Cut to $48.00

RAPT Therapeutics (NASDAQ:RAPT – Get Rating) had its target price trimmed by Guggenheim from $55.00 to $48.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on RAPT. HC Wainwright decreased their price target on shares of RAPT Therapeutics from $50.00 to $43.00 and set a buy rating for the company in a research note on Wednesday. The Goldman Sachs Group initiated coverage on shares of RAPT Therapeutics in a research note on Thursday, December 1st. They issued a buy rating and a $27.00 price target for the company. Cantor Fitzgerald decreased their price target on shares of RAPT Therapeutics from $44.00 to $40.00 in a research note on Wednesday. Piper Sandler cut their price objective on shares of RAPT Therapeutics from $34.00 to $33.00 in a report on Thursday, December 8th. Finally, Wells Fargo & Company cut their price objective on shares of RAPT Therapeutics from $55.00 to $48.00 and set an overweight rating on the stock in a report on Wednesday, January 4th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $41.38.

RAPT Therapeutics Price Performance

RAPT stock opened at $18.94 on Wednesday. RAPT Therapeutics has a 1 year low of $9.85 and a 1 year high of $32.45. The firm has a 50-day moving average of $27.10 and a 200 day moving average of $23.28.

Insider Activity

In other news, insider William Ho sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $25.56, for a total transaction of $127,800.00. Following the sale, the insider now owns 35,072 shares in the company, valued at $896,440.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider William Ho sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $25.56, for a total transaction of $127,800.00. Following the sale, the insider now owns 35,072 shares in the company, valued at $896,440.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendye Robbins purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were purchased at an average price of $18.99 per share, for a total transaction of $47,475.00. Following the acquisition, the director now owns 14,900 shares of the company’s stock, valued at $282,951. The disclosure for this purchase can be found here. Insiders have sold a total of 20,742 shares of company stock worth $532,352 over the last 90 days. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RAPT Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in RAPT Therapeutics by 9.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,334,683 shares of the company’s stock worth $79,108,000 after purchasing an additional 359,978 shares during the last quarter. FMR LLC boosted its holdings in RAPT Therapeutics by 28.7% in the second quarter. FMR LLC now owns 4,096,166 shares of the company’s stock worth $74,756,000 after purchasing an additional 913,465 shares during the last quarter. Column Group LLC boosted its holdings in RAPT Therapeutics by 91.2% in the second quarter. Column Group LLC now owns 2,680,458 shares of the company’s stock worth $48,918,000 after purchasing an additional 1,278,450 shares during the last quarter. BlackRock Inc. boosted its holdings in RAPT Therapeutics by 0.3% in the third quarter. BlackRock Inc. now owns 2,062,659 shares of the company’s stock worth $49,627,000 after purchasing an additional 6,076 shares during the last quarter. Finally, State Street Corp boosted its holdings in RAPT Therapeutics by 8.3% in the first quarter. State Street Corp now owns 1,347,581 shares of the company’s stock worth $29,633,000 after purchasing an additional 103,794 shares during the last quarter.

RAPT Therapeutics Company Profile

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Rapt Therapeutics, Inc operates as a clinical stage immunology-based biopharmaceutical company. It focuses on discovering, developing and commercializing oral small molecule therapies for patients in oncology and inflammatory diseases.. The company was founded in 2015 and is headquartered in South San Francisco, CA.