RAPT Therapeutics (NASDAQ:RAPT) Upgraded by HC Wainwright to Strong-Buy Rating

RAPT Therapeutics (NASDAQ:RAPT) was upgraded by analysts at HC Wainwright to a “strong-buy” rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $6.00 price objective on the stock.

RAPT Therapeutics Stock Performance

Shares of NASDAQ RAPT opened at $0.86 on Thursday. RAPT Therapeutics has a fifty-two week low of $0.71 and a fifty-two week high of $4.74. The company has a market cap of $113.52 million, a PE ratio of -0.31 and a beta of -0.04. The business has a 50-day simple moving average of $0.98 and a two-hundred day simple moving average of $1.18.

RAPT Therapeutics (NASDAQ:RAPT) last released its earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.23. On average, sell-side analysts predict that RAPT Therapeutics will post -2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RAPT Therapeutics

Several hedge funds have recently made changes to their positions in RAPT. Checkpoint Capital L.P. acquired a new stake in RAPT Therapeutics during the 1st quarter worth about $134,000. AQR Capital Management LLC purchased a new position in shares of RAPT Therapeutics in the first quarter worth about $188,000. ADAR1 Capital Management LLC lifted its holdings in shares of RAPT Therapeutics by 408.4% during the first quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company’s stock worth $7,284,000 after purchasing an additional 4,796,455 shares during the period. Nantahala Capital Management LLC lifted its holdings in shares of RAPT Therapeutics by 303.1% during the first quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock worth $6,116,000 after purchasing an additional 3,769,414 shares during the period. Finally, Comerica Bank boosted its position in RAPT Therapeutics by 53.9% in the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock valued at $109,000 after buying an additional 31,287 shares during the last quarter. 99.09% of the stock is owned by institutional investors and hedge funds.

About RAPT Therapeutics

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the United States. The company's lead inflammation drug candidate is zelnecirnon (RPT193), a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.