Analysts Set Rapt Therapeutics (NASDAQ:RAPT) Price Target at $19.80

Rapt Therapeutics (NASDAQ:RAPT) has earned a consensus rating of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $21.67.

A number of equities research analysts have weighed in on the stock. HC Wainwright upped their price objective on shares of Rapt Therapeutics to $27.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group cut their price objective on shares of Rapt Therapeutics from $16.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Finally, Lifesci Capital upgraded shares of Rapt Therapeutics to a “strong-buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, July 22nd.

Rapt Therapeutics Price Performance

Shares of RAPT opened at $13.31 on Wednesday. Rapt Therapeutics has a one year low of $5.67 and a one year high of $27.84. The company has a 50-day simple moving average of $8.88 and a two-hundred day simple moving average of $8.70. The firm has a market capitalization of $220.15 million, a PE ratio of -0.69 and a beta of -0.09.

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

Institutional Investors Weigh In On Rapt Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Simplicity Wealth LLC bought a new position in Rapt Therapeutics during the first quarter valued at approximately $25,000. Exchange Traded Concepts LLC raised its position in Rapt Therapeutics by 27.7% in the first quarter. Exchange Traded Concepts LLC now owns 113,738 shares of the company’s stock worth $139,000 after acquiring an additional 24,662 shares during the period. Callan Family Office LLC raised its position in shares of Rapt Therapeutics by 53.9% during the 1st quarter. Callan Family Office LLC now owns 89,327 shares of the company’s stock valued at $109,000 after purchasing an additional 31,287 shares during the period. Comerica Bank raised its position in shares of Rapt Therapeutics by 53.9% during the 1st quarter. Comerica Bank now owns 89,327 shares of the company’s stock valued at $109,000 after purchasing an additional 31,287 shares during the period. Finally, Geode Capital Management LLC grew its stake in Rapt Therapeutics by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 716,937 shares of the company’s stock valued at $1,133,000 after acquiring an additional 33,758 shares in the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

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.