Rapt Therapeutics (NASDAQ:RAPT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rapt Therapeutics (NASDAQ:RAPT) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $50.50.

Several research firms have recently commented on RAPT. JPMorgan Chase & Co. increased their price target on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Wells Fargo & Company set a $72.00 target price on Rapt Therapeutics and gave the company an “overweight” rating in a report on Monday, November 3rd. Guggenheim assumed coverage on Rapt Therapeutics in a research report on Monday, October 27th. They set a “buy” rating and a $70.00 price target for the company. Leerink Partnrs raised Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Finally, HC Wainwright upped their price objective on Rapt Therapeutics from $27.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, October 27th.

Institutional Investors Weigh In On Rapt Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. ADAR1 Capital Management LLC raised its position in shares of 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 buying an additional 4,796,455 shares during the last quarter. Nantahala Capital Management LLC grew its stake in Rapt Therapeutics by 303.1% in the 1st quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock worth $6,116,000 after acquiring an additional 3,769,414 shares during the period. Boone Capital Management LLC acquired a new position in Rapt Therapeutics in the 3rd quarter valued at $20,180,000. AQR Capital Management LLC purchased a new position in shares of Rapt Therapeutics during the 1st quarter worth $188,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Rapt Therapeutics by 112.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock worth $184,000 after purchasing an additional 79,967 shares during the last quarter. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

Rapt Therapeutics Stock Up 7.5%

NASDAQ:RAPT opened at $29.12 on Tuesday. The company has a market capitalization of $806.92 million, a PE ratio of -2.63 and a beta of 0.20. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $42.39. The stock has a fifty day simple moving average of $27.53 and a 200-day simple moving average of $16.08.

Rapt Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.23. As a group, equities analysts anticipate that Rapt Therapeutics will post -2.14 earnings per share for the current year.

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.