UBS Group Issues Pessimistic Forecast for RAPT Therapeutics (NASDAQ:RAPT) Stock Price

RAPT Therapeutics (NASDAQ:RAPT) had its price target reduced by stock analysts at UBS Group from $2.00 to $1.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 12.61% from the company’s previous close.

Separately, HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of RAPT Therapeutics in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.00.

RAPT Therapeutics Stock Down 7.8%

Shares of NASDAQ:RAPT opened at $0.89 on Thursday. The company has a market cap of $117.47 million, a PE ratio of -0.32 and a beta of -0.04. RAPT Therapeutics has a fifty-two week low of $0.71 and a fifty-two week high of $4.76. The firm has a 50-day simple moving average of $0.98 and a 200 day simple moving average of $1.19.

RAPT Therapeutics (NASDAQ:RAPT) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.23. As a group, research analysts forecast that RAPT Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Medicxi Ventures Management Jersey Ltd purchased a new position in shares of RAPT Therapeutics during the 4th quarter valued at $35,316,000. TCG Crossover Management LLC bought a new position in RAPT Therapeutics during the fourth quarter valued at about $19,751,000. Orbimed Advisors LLC acquired a new position in shares of RAPT Therapeutics in the fourth quarter valued at $20,754,000. Foresite Capital Management VI LLC bought a new position in shares of RAPT Therapeutics during the 4th quarter worth about $19,750,000. Finally, RTW Investments LP bought a new stake in shares of RAPT Therapeutics in the 4th quarter valued at approximately $18,587,000. 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.