Rapt Therapeutics (NASDAQ:RAPT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Rapt Therapeutics (NASDAQ:RAPT) have earned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $55.4444.

RAPT has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $72.00 price objective on Rapt Therapeutics and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Leerink Partnrs upgraded Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. boosted their price objective on Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Cowen initiated coverage on shares of Rapt Therapeutics in a research report on Thursday, December 18th. They set a “buy” rating for the company. Finally, Piper Sandler started coverage on shares of Rapt Therapeutics in a research report on Friday. They set an “overweight” rating and a $95.00 price target on the stock.

Institutional Trading of Rapt Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RAPT. Velan Capital Investment Management LP acquired a new position in Rapt Therapeutics in the third quarter valued at about $2,063,000. Susquehanna International Group LLP increased its position in shares of Rapt Therapeutics by 173.4% during the third quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock valued at $1,170,000 after acquiring an additional 28,782 shares during the last quarter. Millennium Management LLC raised its stake in shares of Rapt Therapeutics by 75.2% in the 3rd quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock valued at $1,013,000 after acquiring an additional 16,854 shares during the period. Boone Capital Management LLC acquired a new position in shares of Rapt Therapeutics in the 3rd quarter worth approximately $20,180,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Rapt Therapeutics in the 3rd quarter worth approximately $1,326,000. 99.09% of the stock is owned by institutional investors and hedge funds.

Rapt Therapeutics Stock Performance

Shares of NASDAQ:RAPT opened at $34.06 on Wednesday. The stock’s 50-day simple moving average is $32.31 and its two-hundred day simple moving average is $22.63. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $42.39. The stock has a market capitalization of $943.80 million, a price-to-earnings ratio of -3.08 and a beta of 0.45.

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

About Rapt Therapeutics

RAPT Therapeutics, Inc (NASDAQ:RAPT) is a clinical-stage biotechnology company developing novel therapeutics for autoimmune and allergic diseases. Founded in 2013 and headquartered in San Diego, California, RAPT applies tissue-selective immunology to design small molecule and biologic candidates that modulate immune cell trafficking and tissue-resident pathways. The company’s research platform enables the identification of targets that drive tissue inflammation with the goal of achieving improved efficacy and safety profiles over current therapies.

The company’s lead asset, RPT193, is an orally available antagonist of the CC chemokine receptor 4 (CCR4), currently in clinical development for atopic dermatitis and allergic asthma.