Analysts Set Rapt Therapeutics (NASDAQ:RAPT) PT at $50.50

Rapt Therapeutics (NASDAQ:RAPT) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $50.50.

RAPT has been the topic of a number of recent research reports. Leerink Partners raised shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $16.00 to $37.00 in a research report on Friday, September 26th. Wells Fargo & Company set a $72.00 price objective on shares of Rapt Therapeutics and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Cowen initiated coverage on shares of Rapt Therapeutics in a report on Thursday. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Wednesday, October 8th. Finally, TD Cowen assumed coverage on Rapt Therapeutics in a research report on Thursday, December 18th. They issued a “buy” rating on the stock.

Rapt Therapeutics Stock Up 7.9%

RAPT opened at $36.47 on Friday. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $42.39. The stock has a market cap of $1.01 billion, a PE ratio of -3.30 and a beta of 0.43. The business has a 50 day moving average of $31.06 and a 200-day moving average of $19.80.

Rapt Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.23. Equities analysts anticipate that Rapt Therapeutics will post -2.14 EPS for the current year.

Institutional Investors Weigh In On Rapt Therapeutics

A number of institutional investors have recently modified their holdings of RAPT. ADAR1 Capital Management LLC raised its position in shares of Rapt Therapeutics by 408.4% in the 1st 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 last quarter. Nantahala Capital Management LLC lifted its stake in shares of Rapt Therapeutics by 303.1% in the first quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock worth $6,116,000 after buying an additional 3,769,414 shares in the last quarter. Boone Capital Management LLC purchased a new stake in shares of Rapt Therapeutics during the third quarter valued at approximately $20,180,000. AQR Capital Management LLC purchased a new stake in shares of Rapt Therapeutics during the first quarter valued at approximately $188,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Rapt Therapeutics by 112.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock valued at $184,000 after acquiring an additional 79,967 shares in the last quarter. 99.09% of the stock is owned by hedge funds and other institutional investors.

About Rapt Therapeutics

RAPT Therapeutics, Inc (NASDAQ:RAPT) is a clinical-stage biotechnology company developing novel therapeutics for autoimmune and allergic diseases. Founded in 2013 and headquartered in San Diego, California, RAPT applies tissue-selective immunology to design small molecule and biologic candidates that modulate immune cell trafficking and tissue-resident pathways. The company’s research platform enables the identification of targets that drive tissue inflammation with the goal of achieving improved efficacy and safety profiles over current therapies.

The company’s lead asset, RPT193, is an orally available antagonist of the CC chemokine receptor 4 (CCR4), currently in clinical development for atopic dermatitis and allergic asthma.