Brokerages Set Rapt Therapeutics (NASDAQ:RAPT) PT at $23.50

Shares of Rapt Therapeutics (NASDAQ:RAPT) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.50.

A number of research analysts have commented on RAPT shares. Wall Street Zen upgraded Rapt Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. UBS Group set a $9.00 price objective on Rapt Therapeutics and gave the company a “neutral” rating in a research report on Tuesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Wednesday. HC Wainwright raised their price target on Rapt Therapeutics to $27.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Finally, Zacks Research lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC bought a new position in shares of Rapt Therapeutics in the 1st quarter worth $25,000. Invesco Ltd. boosted its position in shares of Rapt Therapeutics by 411.7% in the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after purchasing an additional 47,391 shares during the last quarter. Comerica Bank boosted its position in shares of Rapt Therapeutics by 53.9% in the 1st quarter. Comerica Bank now owns 89,327 shares of the company’s stock worth $109,000 after purchasing an additional 31,287 shares during the last quarter. Callan Family Office LLC boosted its position in shares of Rapt Therapeutics by 53.9% in the 1st quarter. Callan Family Office LLC now owns 89,327 shares of the company’s stock worth $109,000 after purchasing an additional 31,287 shares during the last quarter. Finally, Checkpoint Capital L.P. bought a new position in shares of Rapt Therapeutics in the 1st quarter worth $134,000. 99.09% of the stock is currently owned by institutional investors.

Rapt Therapeutics Stock Performance

Shares of RAPT opened at $29.44 on Monday. The firm has a market capitalization of $486.94 million, a price-to-earnings ratio of -2.08 and a beta of 0.23. The business’s fifty day moving average price is $16.15 and its two-hundred day moving average price is $11.10. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $32.35.

Rapt Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.04). As a group, research analysts forecast that Rapt Therapeutics will post -2.14 EPS for the current year.

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.