Rapt Therapeutics (NASDAQ:RAPT) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Rapt Therapeutics (NASDAQ:RAPT) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other analysts have also recently issued reports on the company. Lifesci Capital raised Rapt Therapeutics to a “strong-buy” rating and set a $31.00 target price for the company in a research report on Tuesday, July 22nd. HC Wainwright upped their target price on Rapt Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. Finally, UBS Group decreased their price objective on Rapt Therapeutics from $16.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.67.

Rapt Therapeutics Stock Up 5.2%

Shares of NASDAQ RAPT opened at $13.31 on Friday. The stock has a market cap of $220.15 million, a PE ratio of -0.69 and a beta of -0.09. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $27.84. The business has a 50-day moving average price of $8.88 and a 200 day moving average price of $8.72.

Rapt Therapeutics (NASDAQ:RAPT) last announced its earnings results on Thursday, May 8th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.48) by $1.84. Sell-side analysts anticipate that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Hedge Funds Weigh In On Rapt Therapeutics

A number of large investors have recently modified their holdings of RAPT. Simplicity Wealth LLC purchased a new position in shares of Rapt Therapeutics during the 1st quarter worth approximately $25,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Rapt Therapeutics during the 4th quarter worth approximately $63,000. Sei Investments Co. purchased a new position in shares of Rapt Therapeutics during the 4th quarter worth approximately $64,000. Invesco Ltd. raised its stake in shares of Rapt Therapeutics by 411.7% during the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after buying an additional 47,391 shares in the last quarter. Finally, Shay Capital LLC purchased a new position in shares of Rapt Therapeutics during the 4th quarter worth approximately $81,000. 99.09% of the stock is owned by hedge funds and other institutional investors.

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.