Rapt Therapeutics (NASDAQ:RAPT) Upgraded by Leerink Partners to Outperform Rating

Leerink Partners upgraded shares of Rapt Therapeutics (NASDAQ:RAPT) from a market perform rating to an outperform rating in a research note released on Friday, Marketbeat Ratings reports. The firm currently has $37.00 price objective on the stock, up from their prior price objective of $16.00.

Other analysts have also recently issued reports about the company. Zacks Research cut Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $38.00 price objective (down from $51.00) on shares of Rapt Therapeutics in a report on Friday, August 8th. UBS Group set a $9.00 price objective on Rapt Therapeutics and gave the stock a “neutral” rating in a report on Tuesday, August 12th. Lifesci Capital raised Rapt Therapeutics to a “strong-buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upgraded Rapt Therapeutics from an “underweight” rating to a “neutral” rating and set a $14.00 price target on the stock in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Rapt Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Rapt Therapeutics Price Performance

Shares of RAPT opened at $26.38 on Friday. The stock has a market capitalization of $436.33 million, a price-to-earnings ratio of -1.86 and a beta of -0.10. Rapt Therapeutics has a 1 year low of $5.67 and a 1 year high of $27.00. The business’s 50 day simple moving average is $13.59 and its 200-day simple moving average is $10.06.

Rapt Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.04). On average, sell-side analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Institutional Trading of Rapt Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of RAPT. ADAR1 Capital Management LLC grew its position in shares of Rapt Therapeutics by 408.4% during the 1st quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company’s stock worth $7,284,000 after buying an additional 4,796,455 shares in the last quarter. Nantahala Capital Management LLC grew its position in shares of Rapt Therapeutics by 303.1% during the 1st quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock worth $6,116,000 after buying an additional 3,769,414 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Rapt Therapeutics during the 1st quarter worth $188,000. Nuveen LLC bought a new position in shares of Rapt Therapeutics during the 1st quarter worth $143,000. Finally, Checkpoint Capital L.P. bought a new position in shares of Rapt Therapeutics during the 1st quarter worth $134,000. 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.