HC Wainwright Issues Positive Forecast for Rapt Therapeutics (NASDAQ:RAPT) Stock Price

Rapt Therapeutics (NASDAQ:RAPT) had its target price upped by HC Wainwright from $27.00 to $72.00 in a research report report published on Monday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

RAPT has been the subject of a number of other research reports. Wells Fargo & Company reissued an “overweight” rating and set a $48.00 price target (up previously from $38.00) on shares of Rapt Therapeutics in a research report on Tuesday, October 21st. JPMorgan Chase & Co. raised Rapt Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $13.00 to $55.00 in a research report on Monday, October 20th. Wall Street Zen raised Rapt Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Lifesci Capital raised Rapt Therapeutics to a “strong-buy” rating and set a $31.00 price target for the company in a research report on Tuesday, July 22nd. Finally, Leerink Partnrs raised Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rapt Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $41.20.

Rapt Therapeutics Trading Up 1.9%

Rapt Therapeutics stock opened at $30.10 on Monday. The firm has a market capitalization of $497.85 million, a P/E ratio of -2.12 and a beta of 0.23. The stock has a fifty day moving average price of $20.99 and a 200 day moving average price of $12.94. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $42.39.

Rapt Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.04). As a group, equities analysts predict that Rapt Therapeutics will post -2.14 EPS for the current year.

Institutional Investors Weigh In On Rapt Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Checkpoint Capital L.P. purchased a new stake in shares of Rapt Therapeutics in the first quarter worth about $134,000. AQR Capital Management LLC purchased a new position in Rapt Therapeutics in the first quarter valued at about $188,000. ADAR1 Capital Management LLC boosted its holdings in Rapt Therapeutics by 408.4% in the first quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company’s stock valued at $7,284,000 after purchasing an additional 4,796,455 shares during the last quarter. Nantahala Capital Management LLC boosted its holdings in Rapt Therapeutics by 303.1% in the first quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock valued at $6,116,000 after purchasing an additional 3,769,414 shares during the last quarter. Finally, Comerica Bank boosted its holdings in Rapt Therapeutics by 53.9% in the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock valued at $109,000 after purchasing an additional 31,287 shares during the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics Company Profile

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.