JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Rapt Therapeutics (NASDAQ:RAPT) Stock

Rapt Therapeutics (NASDAQ:RAPT) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $55.00 to $57.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 93.29% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Zacks Research downgraded Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Leerink Partnrs upgraded shares of Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Finally, HC Wainwright raised their target price on shares of Rapt Therapeutics from $27.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

Rapt Therapeutics Price Performance

Shares of NASDAQ RAPT traded up $0.01 during mid-day trading on Wednesday, reaching $29.49. 377,530 shares of the company’s stock traded hands, compared to its average volume of 189,883. The stock has a market cap of $487.76 million, a P/E ratio of -2.66 and a beta of 0.20. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $42.39. The business has a 50-day simple moving average of $24.98 and a 200 day simple moving average of $14.73.

Rapt Therapeutics (NASDAQ:RAPT) last posted its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.23. Equities research analysts anticipate that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

Institutional Trading of Rapt Therapeutics

Several large investors have recently added to or reduced their stakes in RAPT. ADAR1 Capital Management LLC lifted its holdings in Rapt Therapeutics by 408.4% in the first quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company’s stock valued at $7,284,000 after acquiring an additional 4,796,455 shares during the last quarter. Nantahala Capital Management LLC increased its stake in 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 acquiring an additional 3,769,414 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Rapt Therapeutics in the first quarter valued at $188,000. Nuveen LLC acquired a new position in shares of Rapt Therapeutics in the 1st quarter valued at $143,000. Finally, Checkpoint Capital L.P. purchased a new position in shares of Rapt Therapeutics during the 1st quarter worth $134,000. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

Rapt Therapeutics Company Profile

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.