Rapt Therapeutics (NASDAQ:RAPT) Research Coverage Started at Guggenheim

Guggenheim began coverage on shares of Rapt Therapeutics (NASDAQ:RAPT) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $70.00 price target on the stock.

Several other research firms have also issued reports on RAPT. Barclays lifted their price objective on shares of Rapt Therapeutics from $35.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. raised Rapt Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $13.00 to $55.00 in a research report on Monday, October 20th. Wells Fargo & Company reiterated an “overweight” rating and set a $48.00 price target (up previously from $38.00) on shares of Rapt Therapeutics in a research note on Tuesday, October 21st. HC Wainwright raised their price objective on Rapt Therapeutics to $27.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rapt Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $41.20.

Rapt Therapeutics Stock Performance

NASDAQ:RAPT opened at $29.78 on Monday. The stock’s 50 day moving average price is $21.77 and its 200 day moving average price is $13.26. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $42.39. The company has a market capitalization of $492.56 million, a P/E ratio of -2.10 and a beta of 0.23.

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

Hedge Funds Weigh In On Rapt Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Rapt Therapeutics by 411.7% in the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock valued at $72,000 after purchasing an additional 47,391 shares during the period. Comerica Bank raised its position in shares of Rapt Therapeutics by 53.9% during the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock valued at $109,000 after buying an additional 31,287 shares during the last quarter. Callan Family Office LLC raised its position in shares of Rapt Therapeutics by 53.9% during the first quarter. Callan Family Office LLC now owns 89,327 shares of the company’s stock valued at $109,000 after buying an additional 31,287 shares during the last quarter. Checkpoint Capital L.P. bought a new stake in shares of Rapt Therapeutics in the first quarter valued at about $134,000. Finally, Nuveen LLC acquired a new stake in Rapt Therapeutics during the first quarter worth about $143,000. Institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics Company Profile

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.