Rapt Therapeutics (NASDAQ:RAPT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rapt Therapeutics (NASDAQ:RAPT) from a sell rating to a hold rating in a research report sent to investors on Friday.

A number of other analysts also recently issued reports on RAPT. JPMorgan Chase & Co. upgraded shares of Rapt Therapeutics from an “underweight” rating to a “neutral” rating and set a $14.00 price objective for the company in a report on Wednesday, July 30th. Zacks Research downgraded shares of Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Wells Fargo & Company restated an “overweight” rating and set a $38.00 price objective (down previously from $51.00) on shares of Rapt Therapeutics in a report on Friday, August 8th. Lifesci Capital upgraded shares of Rapt Therapeutics to a “strong-buy” rating and set a $31.00 price objective for the company in a report on Tuesday, July 22nd. Finally, HC Wainwright raised their price objective on shares of Rapt Therapeutics to $27.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.57.

Rapt Therapeutics Stock Up 1.6%

RAPT stock opened at $12.93 on Friday. The firm has a market cap of $213.86 million, a PE ratio of -0.91 and a beta of -0.10. The business has a 50 day moving average of $10.61 and a 200-day moving average of $9.05. Rapt Therapeutics has a 12-month low of $5.67 and a 12-month high of $26.56.

Rapt Therapeutics (NASDAQ:RAPT) last released its earnings results on Thursday, August 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.04). On average, research analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Hedge Funds Weigh In On Rapt Therapeutics

A number of large investors have recently made changes to their positions in the stock. Simplicity Wealth LLC bought a new position in shares of Rapt Therapeutics in the first quarter worth $25,000. Exchange Traded Concepts LLC boosted its holdings in shares of Rapt Therapeutics by 27.7% in the first quarter. Exchange Traded Concepts LLC now owns 113,738 shares of the company’s stock worth $139,000 after acquiring an additional 24,662 shares during the period. Callan Family Office LLC boosted its holdings in shares of Rapt Therapeutics by 53.9% in the first quarter. Callan Family Office LLC now owns 89,327 shares of the company’s stock worth $109,000 after acquiring an additional 31,287 shares during the period. Comerica Bank boosted its holdings in shares of Rapt Therapeutics by 53.9% in the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock worth $109,000 after acquiring an additional 31,287 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Rapt Therapeutics by 50.5% in the fourth quarter. Nuveen Asset Management LLC now owns 116,925 shares of the company’s stock worth $185,000 after acquiring an additional 39,216 shares during the period. 99.09% of the stock is owned by institutional investors.

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.