RAPT Therapeutics, Inc. (NASDAQ:RAPT) Receives Average Rating of “Buy” from Brokerages

RAPT Therapeutics, Inc. (NASDAQ:RAPTGet Rating) has received a consensus recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $56.00.

A number of brokerages have weighed in on RAPT. Zacks Investment Research cut RAPT Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, January 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of RAPT Therapeutics in a research report on Friday, April 1st. Piper Sandler reduced their price target on RAPT Therapeutics from $61.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price target on shares of RAPT Therapeutics in a research report on Monday, March 14th. Finally, Roth Capital reaffirmed a “buy” rating on shares of RAPT Therapeutics in a research report on Wednesday, March 16th.

RAPT opened at $14.96 on Thursday. The stock has a market cap of $442.41 million, a price-to-earnings ratio of -5.91 and a beta of 0.99. RAPT Therapeutics has a 1 year low of $13.51 and a 1 year high of $43.26. The stock has a fifty day moving average price of $20.64 and a 200 day moving average price of $26.90.

RAPT Therapeutics (NASDAQ:RAPTGet Rating) last released its quarterly earnings data on Thursday, March 10th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.05. RAPT Therapeutics had a negative return on equity of 39.69% and a negative net margin of 1,814.95%. The firm had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $1.50 million. As a group, research analysts forecast that RAPT Therapeutics will post -3.04 earnings per share for the current year.

In related news, insider William Ho sold 3,000 shares of the business’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $18.79, for a total transaction of $56,370.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dirk G. Brockstedt sold 2,647 shares of the company’s stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $22.47, for a total value of $59,478.09. The disclosure for this sale can be found here. Insiders have sold 13,942 shares of company stock worth $309,055 over the last 90 days. Corporate insiders own 26.34% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in RAPT. Royal Bank of Canada grew its stake in shares of RAPT Therapeutics by 89.2% in the 2nd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $39,000 after purchasing an additional 580 shares during the period. Invesco Ltd. bought a new stake in shares of RAPT Therapeutics in the 2nd quarter valued at approximately $247,000. Morgan Stanley grew its stake in shares of RAPT Therapeutics by 481.9% in the 2nd quarter. Morgan Stanley now owns 346,729 shares of the company’s stock valued at $11,022,000 after purchasing an additional 287,146 shares during the period. Deutsche Bank AG grew its stake in shares of RAPT Therapeutics by 16.1% in the 3rd quarter. Deutsche Bank AG now owns 14,793 shares of the company’s stock valued at $460,000 after purchasing an additional 2,049 shares during the period. Finally, TD Asset Management Inc. grew its stake in shares of RAPT Therapeutics by 7.5% in the 3rd quarter. TD Asset Management Inc. now owns 83,640 shares of the company’s stock valued at $2,597,000 after purchasing an additional 5,800 shares during the period. Institutional investors own 95.22% of the company’s stock.

RAPT Therapeutics Company Profile (Get Rating)

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovering, developing, and commercializing oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases. Its lead inflammation drug candidate is RPT193, a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.

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