HC Wainwright Reiterates Neutral Rating for RAPT Therapeutics (NASDAQ:RAPT)

RAPT Therapeutics (NASDAQ:RAPT)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports.

A number of other research firms have also recently commented on RAPT. Piper Sandler cut shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $8.00 to $2.00 in a research note on Monday. UBS Group lowered their price objective on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.00.

RAPT Therapeutics Price Performance

Shares of NASDAQ:RAPT opened at $1.57 on Tuesday. The business’s 50 day moving average price is $1.97 and its 200-day moving average price is $3.06. RAPT Therapeutics has a 1 year low of $1.31 and a 1 year high of $27.35. The firm has a market capitalization of $54.79 million, a price-to-earnings ratio of -0.56 and a beta of 0.33.

Hedge Funds Weigh In On RAPT Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of RAPT Therapeutics by 21.2% during the 1st quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock worth $22,386,000 after acquiring an additional 436,629 shares during the period. Kingdon Capital Management L.L.C. raised its stake in RAPT Therapeutics by 55.3% during the first quarter. Kingdon Capital Management L.L.C. now owns 1,500,000 shares of the company’s stock worth $13,470,000 after purchasing an additional 534,172 shares during the period. Federated Hermes Inc. raised its stake in RAPT Therapeutics by 188.7% during the second quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock worth $2,428,000 after purchasing an additional 520,368 shares during the period. Point72 Asset Management L.P. boosted its holdings in RAPT Therapeutics by 176,725.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after purchasing an additional 706,900 shares during the last quarter. Finally, Redmile Group LLC grew its stake in shares of RAPT Therapeutics by 80.6% in the 1st quarter. Redmile Group LLC now owns 662,398 shares of the company’s stock valued at $5,948,000 after buying an additional 295,622 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.