Rapt Therapeutics (NASDAQ:RAPT) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Rapt Therapeutics (NASDAQ:RAPT) from an overweight rating to an equal weight rating in a research report report published on Tuesday, MarketBeat reports. They currently have $58.00 target price on the stock.

Several other research analysts have also weighed in on RAPT. Guggenheim lowered shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday. Piper Sandler downgraded shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research note on Tuesday. Leerink Partners upgraded shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $37.00 in a report on Friday, September 26th. HC Wainwright downgraded Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 price objective for the company. in a report on Tuesday. Finally, TD Cowen cut Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rapt Therapeutics presently has an average rating of “Hold” and an average price target of $48.44.

Rapt Therapeutics Stock Up 0.1%

Shares of Rapt Therapeutics stock opened at $57.64 on Tuesday. Rapt Therapeutics has a fifty-two week low of $5.67 and a fifty-two week high of $57.71. The business’s fifty day moving average is $34.48 and its two-hundred day moving average is $24.19. The firm has a market cap of $1.60 billion, a PE ratio of -5.21 and a beta of 0.45.

Rapt Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.23. Equities research analysts anticipate that Rapt Therapeutics will post -2.14 EPS for the current year.

Institutional Trading of Rapt Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP purchased a new position in Rapt Therapeutics in the third quarter valued at about $231,000. Bridgeway Capital Management LLC boosted its position in shares of Rapt Therapeutics by 32.0% in the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock worth $532,000 after buying an additional 5,000 shares during the period. UBS Group AG boosted its position in shares of Rapt Therapeutics by 680.3% in the third quarter. UBS Group AG now owns 28,808 shares of the company’s stock worth $743,000 after buying an additional 25,116 shares during the period. Millennium Management LLC grew its stake 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 valued at $1,013,000 after buying an additional 16,854 shares in the last quarter. Finally, Susquehanna International Group LLP raised its holdings in shares of Rapt Therapeutics by 173.4% during the 3rd quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock valued at $1,170,000 after buying an additional 28,782 shares during the period. 99.09% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Rapt Therapeutics

Here are the key news stories impacting Rapt Therapeutics this week:

• Positive Sentiment: GSK agreed to acquire Rapt for $58.00 in cash, valuing the deal at about $2.2 billion — this is the main positive driver behind the stock’s rally because it sets a definitive cash exit price that values RAPT well above prior levels. Article Title
• Neutral Sentiment: Wells Fargo reaffirmed an Equal Weight rating on RAPT — this maintains a neutral broker view and does not materially change the takeout valuation dynamic. Article Title
• Negative Sentiment: Multiple research firms cut or lowered ratings after the deal news (HC Wainwright downgraded to Neutral; Lifesci Capital lowered to Hold; Barclays cut to Equal Weight with a $58 target; Clear Street/others moved to Hold/Market Perform). Downgrades typically reduce near-term upside from additional analyst-driven buying. Article Title
• Negative Sentiment: An investor class‑action/representation firm (Kahn Swick & Foti) opened an investigation into whether the $58 per‑share consideration and the sale process are adequate — this introduces legal/transactional scrutiny that could delay closing or generate litigation costs/settlement risk. Article Title

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.