RAPT Therapeutics (NASDAQ:RAPT) Price Target Cut to $50.00

RAPT Therapeutics (NASDAQ:RAPTGet Rating) had its price target cut by equities research analysts at HC Wainwright from $53.00 to $50.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 112.13% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Capital One Financial began coverage on RAPT Therapeutics in a research report on Wednesday, September 21st. They set an “overweight” rating and a $48.00 price target on the stock. Piper Sandler boosted their price target on RAPT Therapeutics from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, November 10th. Finally, SVB Leerink lowered their price target on RAPT Therapeutics from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Thursday, August 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $50.57.

RAPT Therapeutics Stock Performance

RAPT opened at $23.57 on Monday. RAPT Therapeutics has a 52-week low of $9.85 and a 52-week high of $40.74. The firm has a market capitalization of $705.00 million, a PE ratio of -9.24 and a beta of 0.44. The business’s 50-day simple moving average is $22.91 and its 200 day simple moving average is $20.54.

Insider Activity

In other news, insider William Ho sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $28.13, for a total value of $70,325.00. Following the transaction, the insider now owns 53,035 shares of the company’s stock, valued at $1,491,874.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 9,500 shares of company stock valued at $224,965. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On RAPT Therapeutics

Several institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of RAPT Therapeutics by 159.5% in the third quarter. State Street Corp now owns 1,273,891 shares of the company’s stock valued at $30,650,000 after buying an additional 783,026 shares during the period. Algert Global LLC boosted its stake in shares of RAPT Therapeutics by 18.3% in the third quarter. Algert Global LLC now owns 13,677 shares of the company’s stock valued at $329,000 after buying an additional 2,112 shares during the period. Vanguard Group Inc. boosted its stake in shares of RAPT Therapeutics by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,283,908 shares of the company’s stock valued at $30,891,000 after buying an additional 18,363 shares during the period. Putnam Investments LLC boosted its stake in shares of RAPT Therapeutics by 9.5% in the third quarter. Putnam Investments LLC now owns 21,825 shares of the company’s stock valued at $525,000 after buying an additional 1,901 shares during the period. Finally, Portman Ltd bought a new stake in shares of RAPT Therapeutics in the third quarter valued at approximately $307,000. 98.42% of the stock is currently owned by institutional investors.

About RAPT Therapeutics

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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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