Rapt Therapeutics (NASDAQ:RAPT) Trading Down 6.8% – Should You Sell?

Shares of Rapt Therapeutics (NASDAQ:RAPT) traded down 6.8% on Thursday . The stock traded as low as $33.00 and last traded at $32.3550. 78,947 shares traded hands during trading, a decline of 70% from the average session volume of 266,995 shares. The stock had previously closed at $34.73.

Analysts Set New Price Targets

RAPT has been the topic of a number of analyst reports. Cowen started coverage on shares of Rapt Therapeutics in a research note on Thursday, December 18th. They set a “buy” rating on the stock. TD Cowen began coverage on Rapt Therapeutics in a report on Thursday, December 18th. They issued a “buy” rating on the stock. Guggenheim started coverage on Rapt Therapeutics in a research note on Monday, October 27th. They set a “buy” rating and a $70.00 target price for the company. Leerink Partnrs upgraded Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Leerink Partners upgraded Rapt Therapeutics from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $16.00 to $37.00 in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.44.

Rapt Therapeutics Price Performance

The stock’s 50 day simple moving average is $32.44 and its 200-day simple moving average is $22.72. The company has a market capitalization of $891.38 million, a PE ratio of -2.91 and a beta of 0.45.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Boone Capital Management LLC purchased a new position in shares of Rapt Therapeutics in the 3rd quarter valued at about $20,180,000. AQR Capital Management LLC purchased a new position in shares of Rapt Therapeutics in the 1st quarter valued at $188,000. Invesco Ltd. acquired a new stake in Rapt Therapeutics during the 3rd quarter worth $3,625,000. SummitTX Capital L.P. purchased a new stake in Rapt Therapeutics in the third quarter valued at $2,370,000. Finally, Velan Capital Investment Management LP acquired a new position in Rapt Therapeutics in the third quarter valued at $2,063,000. 99.09% of the stock is owned by institutional investors and hedge funds.

Rapt Therapeutics Company Profile

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.