Berenberg Bank Initiates Coverage on RAPT Therapeutics (NASDAQ:RAPT)

Equities researchers at Berenberg Bank started coverage on shares of RAPT Therapeutics (NASDAQ:RAPT) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $34.00 price target on the stock. Berenberg Bank’s target price would indicate a potential upside of 74.36% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Stifel Nicolaus began coverage on shares of RAPT Therapeutics in a research report on Tuesday, August 8th. They issued a “buy” rating and a $40.00 target price for the company. Barclays began coverage on shares of RAPT Therapeutics in a research report on Thursday, June 15th. They issued an “overweight” rating and a $35.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of RAPT Therapeutics from $39.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, August 16th. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 target price on shares of RAPT Therapeutics in a research report on Monday, August 14th. Finally, Piper Sandler raised their target price on shares of RAPT Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $38.18.

RAPT Therapeutics Stock Up 1.5 %

Shares of RAPT opened at $19.50 on Thursday. The stock has a market capitalization of $670.02 million, a P/E ratio of -7.25 and a beta of 0.40. The firm has a fifty day simple moving average of $21.04 and a two-hundred day simple moving average of $20.62. RAPT Therapeutics has a twelve month low of $15.59 and a twelve month high of $31.45.

RAPT Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings results on Friday, August 11th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.12. Sell-side analysts expect that RAPT Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider William Ho sold 2,500 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $18.92, for a total value of $47,300.00. Following the completion of the transaction, the insider now directly owns 21,289 shares in the company, valued at approximately $402,787.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by company insiders.

Institutional Trading of RAPT Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RAPT. Credit Suisse AG boosted its holdings in shares of RAPT Therapeutics by 2.0% during the 2nd quarter. Credit Suisse AG now owns 39,018 shares of the company’s stock valued at $730,000 after acquiring an additional 771 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in RAPT Therapeutics by 46.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,994 shares of the company’s stock valued at $56,000 after purchasing an additional 953 shares in the last quarter. Northern Trust Corp raised its position in shares of RAPT Therapeutics by 0.3% during the second quarter. Northern Trust Corp now owns 287,553 shares of the company’s stock valued at $5,377,000 after buying an additional 979 shares during the last quarter. California State Teachers Retirement System raised its position in shares of RAPT Therapeutics by 3.0% during the first quarter. California State Teachers Retirement System now owns 36,450 shares of the company’s stock valued at $669,000 after buying an additional 1,070 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of RAPT Therapeutics by 14.1% during the fourth quarter. Legal & General Group Plc now owns 10,278 shares of the company’s stock valued at $204,000 after buying an additional 1,268 shares during the last quarter. 99.09% of the stock is currently owned by 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. 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.