Rapt Therapeutics (NASDAQ:RAPT) Trading Down 9.2% – What’s Next?

Shares of Rapt Therapeutics (NASDAQ:RAPT) fell 9.2% on Monday . The stock traded as low as $33.63 and last traded at $33.4240. 255,118 shares changed hands during trading, an increase of 21% from the average session volume of 210,240 shares. The stock had previously closed at $36.80.

Analyst Upgrades and Downgrades

RAPT has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Rapt Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Wednesday, October 8th. Barclays decreased their price target on Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. HC Wainwright raised their price target on Rapt Therapeutics from $27.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Wells Fargo & Company set a $72.00 price objective on Rapt Therapeutics and gave the company an “overweight” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Rapt Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

Rapt Therapeutics Stock Performance

The company’s 50-day simple moving average is $30.56 and its 200 day simple moving average is $19.06. The company has a market cap of $919.42 million, a PE ratio of -3.00 and a beta of 0.43.

Rapt Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings data 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. Analysts forecast that Rapt Therapeutics will post -2.14 EPS for the current year.

Hedge Funds Weigh In On Rapt Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of Rapt Therapeutics by 411.7% during the first quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after buying an additional 47,391 shares during the period. Comerica Bank grew its holdings in Rapt Therapeutics by 53.9% during the 1st quarter. Comerica Bank now owns 89,327 shares of the company’s stock worth $109,000 after acquiring an additional 31,287 shares in the last quarter. Checkpoint Capital L.P. purchased a new stake in shares of Rapt Therapeutics in the 1st quarter valued at approximately $134,000. Nuveen LLC acquired a new stake in shares of Rapt Therapeutics in the 1st quarter valued at $143,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Rapt Therapeutics by 112.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock worth $184,000 after purchasing an additional 79,967 shares during the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

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.