RAPT Therapeutics’ (RAPT) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of RAPT Therapeutics (NASDAQ:RAPT) in a research note issued to investors on Tuesday morning,Benzinga reports.

RAPT has been the subject of several other reports. UBS Group cut their price target on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Piper Sandler downgraded RAPT Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $8.00 to $2.00 in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, RAPT Therapeutics presently has a consensus rating of “Hold” and an average price target of $9.50.

RAPT Therapeutics Stock Performance

NASDAQ:RAPT opened at $1.11 on Tuesday. RAPT Therapeutics has a 52-week low of $1.03 and a 52-week high of $27.35. The business’s fifty day moving average is $1.93 and its 200 day moving average is $2.99. The firm has a market cap of $38.56 million, a price-to-earnings ratio of -0.40 and a beta of 0.33.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. increased its position in RAPT Therapeutics by 8.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock valued at $148,000 after buying an additional 3,824 shares in the last quarter. Acadian Asset Management LLC bought a new stake in RAPT Therapeutics during the 1st quarter valued at about $97,000. EntryPoint Capital LLC bought a new position in shares of RAPT Therapeutics in the first quarter worth approximately $161,000. Readystate Asset Management LP bought a new stake in shares of RAPT Therapeutics during the third quarter valued at approximately $36,000. Finally, Bank of New York Mellon Corp raised its holdings in RAPT Therapeutics by 24.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 114,590 shares of the company’s stock worth $349,000 after acquiring an additional 22,175 shares during the last quarter. 99.09% of the stock is owned by hedge funds and other institutional investors.

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.