Rapt Therapeutics (NASDAQ:RAPT) Receives Average Rating of “Moderate Buy” from Brokerages

Rapt Therapeutics (NASDAQ:RAPT) has received an average recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $50.50.

Several brokerages recently weighed in on RAPT. Leerink Partners raised Rapt Therapeutics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $16.00 to $37.00 in a research note on Friday, September 26th. Barclays reduced their price objective on shares of Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. UBS Group set a $9.00 target price on shares of Rapt Therapeutics and gave the stock a “neutral” rating in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Guggenheim started coverage on Rapt Therapeutics in a report on Monday, October 27th. They issued a “buy” rating and a $70.00 price target on the stock.

Institutional Investors Weigh In On Rapt Therapeutics

Several hedge funds have recently modified their holdings of the stock. Velan Capital Investment Management LP purchased a new position in Rapt Therapeutics in the 3rd quarter worth about $2,063,000. Susquehanna International Group LLP boosted its holdings in shares of Rapt Therapeutics by 173.4% in the third quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock worth $1,170,000 after buying an additional 28,782 shares during the period. Millennium Management LLC increased its position in shares of Rapt Therapeutics by 75.2% in the third quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock worth $1,013,000 after acquiring an additional 16,854 shares in the last quarter. Boone Capital Management LLC acquired a new stake in shares of Rapt Therapeutics during the third quarter valued at approximately $20,180,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Rapt Therapeutics in the 3rd quarter valued at approximately $1,326,000. 99.09% of the stock is owned by hedge funds and other institutional investors.

Rapt Therapeutics Price Performance

NASDAQ RAPT opened at $31.51 on Tuesday. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $42.39. The firm has a market capitalization of $873.14 million, a PE ratio of -2.85 and a beta of 0.43. The company’s 50 day simple moving average is $28.84 and its 200 day simple moving average is $16.99.

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

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.