Guggenheim Lowers RAPT Therapeutics (NASDAQ:RAPT) Price Target to $48.00

RAPT Therapeutics (NASDAQ:RAPT – Get Rating) had its price objective reduced by equities researchers at Guggenheim from $55.00 to $48.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 148.83% from the company’s current price.

Several other equities analysts also recently commented on RAPT. HC Wainwright cut their price target on shares of RAPT Therapeutics from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their price target on RAPT Therapeutics from $55.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, January 4th. Piper Sandler cut their price objective on RAPT Therapeutics from $34.00 to $33.00 in a research report on Thursday, December 8th. The Goldman Sachs Group initiated coverage on RAPT Therapeutics in a research report on Thursday, December 1st. They set a “buy” rating and a $27.00 target price for the company. Finally, Cantor Fitzgerald cut their price target on shares of RAPT Therapeutics from $44.00 to $40.00 in a report on Wednesday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $41.38.

RAPT Therapeutics Stock Up 1.3 %

RAPT stock opened at $19.29 on Wednesday. RAPT Therapeutics has a twelve month low of $9.85 and a twelve month high of $32.45. The stock has a market capitalization of $576.96 million, a price-to-earnings ratio of -7.56 and a beta of 0.46. The firm’s fifty day simple moving average is $27.19 and its two-hundred day simple moving average is $23.36.

Insider Activity

In related news, insider William Ho sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $18.03, for a total value of $90,150.00. Following the completion of the sale, the insider now directly owns 37,650 shares of the company’s stock, valued at $678,829.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Wendye Robbins acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average price of $18.99 per share, with a total value of $47,475.00. Following the completion of the transaction, the director now directly owns 14,900 shares in the company, valued at $282,951. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Ho sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 29th. The stock was sold at an average price of $18.03, for a total transaction of $90,150.00. Following the completion of the transaction, the insider now owns 37,650 shares of the company’s stock, valued at $678,829.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,742 shares of company stock worth $532,352. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank grew its stake in RAPT Therapeutics by 7.6% during the 1st quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $998,000 after buying an additional 3,200 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RAPT Therapeutics by 23.7% during the first quarter. JPMorgan Chase & Co. now owns 13,575 shares of the company’s stock valued at $299,000 after acquiring an additional 2,599 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of RAPT Therapeutics by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 11,028 shares of the company’s stock valued at $243,000 after purchasing an additional 4,070 shares during the last quarter. Rhumbline Advisers boosted its stake in RAPT Therapeutics by 18.3% in the 1st quarter. Rhumbline Advisers now owns 21,961 shares of the company’s stock worth $483,000 after purchasing an additional 3,405 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in RAPT Therapeutics by 32.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 285,325 shares of the company’s stock worth $6,274,000 after purchasing an additional 69,238 shares during the last quarter.

RAPT Therapeutics Company Profile

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Rapt Therapeutics, Inc operates as a clinical stage immunology-based biopharmaceutical company. It focuses on discovering, developing and commercializing oral small molecule therapies for patients in oncology and inflammatory diseases.. The company was founded in 2015 and is headquartered in South San Francisco, CA.