Wall Street Zen Upgrades Rapt Therapeutics (NASDAQ:RAPT) to Hold

Rapt Therapeutics (NASDAQ:RAPT) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a report released on Saturday.

RAPT has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their target price on Rapt Therapeutics from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Barclays downgraded Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a report on Wednesday, January 21st. Lifesci Capital cut Rapt Therapeutics from an “outperform” rating to a “hold” rating in a research note on Tuesday, January 20th. Piper Sandler downgraded Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a report on Tuesday, January 20th. Finally, Guggenheim cut shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rapt Therapeutics currently has an average rating of “Hold” and an average target price of $48.44.

Rapt Therapeutics Stock Performance

NASDAQ:RAPT opened at $58.02 on Friday. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -5.25 and a beta of 0.49. Rapt Therapeutics has a 1 year low of $5.67 and a 1 year high of $58.02. The business has a fifty day moving average of $49.94 and a 200-day moving average of $34.68.

Institutional Trading of Rapt Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Fcpm Iii Services B.V. boosted its stake in shares of Rapt Therapeutics by 432.6% during the 4th quarter. Fcpm Iii Services B.V. now owns 1,833,333 shares of the company’s stock worth $62,095,000 after acquiring an additional 1,489,096 shares in the last quarter. Orbimed Advisors LLC raised its stake in shares of Rapt Therapeutics by 51.2% in the 4th quarter. Orbimed Advisors LLC now owns 1,642,891 shares of the company’s stock valued at $55,645,000 after acquiring an additional 556,273 shares in the last quarter. RTW Investments LP lifted its holdings in Rapt Therapeutics by 11.3% in the 4th quarter. RTW Investments LP now owns 1,637,165 shares of the company’s stock worth $55,451,000 after purchasing an additional 166,666 shares during the last quarter. Siren L.L.C. lifted its holdings in Rapt Therapeutics by 136.9% in the 4th quarter. Siren L.L.C. now owns 1,375,000 shares of the company’s stock worth $46,571,000 after purchasing an additional 794,534 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new stake in Rapt Therapeutics during the fourth quarter worth approximately $33,305,000. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

Rapt Therapeutics Company Profile

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.