RAPT Therapeutics (NASDAQ:RAPT) Raised to Buy at HC Wainwright

HC Wainwright upgraded shares of RAPT Therapeutics (NASDAQ:RAPT) from a neutral rating to a buy rating in a research report released on Thursday, MarketBeat Ratings reports. The brokerage currently has $10.00 price target on the stock.

A number of other equities analysts have also recently weighed in on RAPT. Wells Fargo & Company lowered their price objective on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Stifel Nicolaus reissued a “hold” rating and issued a $2.00 price objective (down previously from $7.00) on shares of RAPT Therapeutics in a research note on Wednesday, November 13th. JPMorgan Chase & Co. downgraded shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. UBS Group decreased their price target on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Finally, Piper Sandler cut RAPT Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $8.00 to $2.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.56.

RAPT Therapeutics Price Performance

RAPT opened at $1.69 on Thursday. The company’s 50 day simple moving average is $1.50 and its two-hundred day simple moving average is $2.16. The firm has a market capitalization of $59.08 million, a price-to-earnings ratio of -0.61 and a beta of 0.07. RAPT Therapeutics has a 1-year low of $0.79 and a 1-year high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.09. On average, equities analysts anticipate that RAPT Therapeutics will post -2.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RAPT Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in RAPT. JPMorgan Chase & Co. raised its stake in RAPT Therapeutics by 298.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,703 shares of the company’s stock worth $34,000 after acquiring an additional 25,130 shares in the last quarter. Readystate Asset Management LP purchased a new position in shares of RAPT Therapeutics during the third quarter worth about $36,000. XTX Topco Ltd acquired a new stake in shares of RAPT Therapeutics during the second quarter worth about $108,000. Barclays PLC lifted its holdings in shares of RAPT Therapeutics by 277.2% in the 3rd quarter. Barclays PLC now owns 39,729 shares of the company’s stock valued at $79,000 after purchasing an additional 29,195 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of RAPT Therapeutics by 66.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 84,586 shares of the company’s stock valued at $258,000 after purchasing an additional 33,692 shares during the period. Institutional investors and hedge funds own 99.09% of the company’s stock.

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.