Rapt Therapeutics (NASDAQ:RAPT) Reaches New 1-Year High – Still a Buy?

Shares of Rapt Therapeutics (NASDAQ:RAPT) hit a new 52-week high on Tuesday . The stock traded as high as $57.61 and last traded at $57.5450, with a volume of 14483880 shares. The stock had previously closed at $35.10.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RAPT. Barclays decreased their price target on Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Guggenheim lowered Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Wednesday, October 8th. Cowen initiated coverage on shares of Rapt Therapeutics in a research report on Thursday, December 18th. They issued a “buy” rating on the stock. Finally, HC Wainwright lifted their price target on shares of Rapt Therapeutics from $27.00 to $72.00 and gave the company a “buy” rating in a report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.33.

Rapt Therapeutics Stock Up 63.9%

The firm’s 50 day simple moving average is $32.75 and its 200 day simple moving average is $23.37. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -5.20 and a beta of 0.45.

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

Institutional Inflows and Outflows

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

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.