RAPT Therapeutics (NASDAQ:RAPT) Cut to Underweight at JPMorgan Chase & Co.

RAPT Therapeutics (NASDAQ:RAPT) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Monday, Marketbeat.com reports.

Other research analysts also recently issued reports about the company. HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday, August 20th. UBS Group dropped 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, RAPT Therapeutics has a consensus rating of “Hold” and an average target price of $14.38.

RAPT Therapeutics Trading Down 0.6 %

RAPT opened at $1.74 on Monday. The company’s 50 day moving average is $1.97 and its 200 day moving average is $3.10. The company has a market cap of $60.73 million, a price-to-earnings ratio of -0.62 and a beta of 0.33. RAPT Therapeutics has a 12-month low of $1.31 and a 12-month high of $27.35.

Institutional Investors Weigh In On RAPT Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of RAPT Therapeutics by 21.2% in the first quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock valued at $22,386,000 after purchasing an additional 436,629 shares during the period. Point72 Asset Management L.P. boosted its position in RAPT Therapeutics by 176,725.0% in the second quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after buying an additional 706,900 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in RAPT Therapeutics by 826.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after buying an additional 263,372 shares during the period. Acadian Asset Management LLC raised its position in RAPT Therapeutics by 4,183.3% during the 2nd quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock worth $1,424,000 after buying an additional 456,275 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in RAPT Therapeutics during the 2nd quarter valued at approximately $108,000. 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.