Rapt Therapeutics (NASDAQ:RAPT) Price Target Lowered to $56.00 at Barclays

Rapt Therapeutics (NASDAQ:RAPT) had its target price lowered by analysts at Barclays from $58.00 to $56.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 93.60% from the stock’s previous close.

A number of other research firms also recently issued reports on RAPT. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Wednesday, October 8th. Lifesci Capital raised shares of Rapt Therapeutics to a “strong-buy” rating and set a $31.00 target price on the stock in a research note on Tuesday, July 22nd. UBS Group set a $9.00 price target on shares of Rapt Therapeutics and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Guggenheim started coverage on Rapt Therapeutics in a report on Monday, October 27th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Wall Street Zen raised Rapt Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rapt Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $43.40.

Rapt Therapeutics Trading Down 0.4%

Shares of NASDAQ RAPT traded down $0.12 during midday trading on Friday, reaching $28.93. 156,148 shares of the stock were exchanged, compared to its average volume of 187,003. The stock has a 50 day moving average price of $23.93 and a 200-day moving average price of $14.15. The company has a market capitalization of $478.42 million, a P/E ratio of -2.04 and a beta of 0.20. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $42.39.

Rapt Therapeutics (NASDAQ:RAPT) last announced its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.23. On average, analysts forecast that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Callan Family Office LLC boosted 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 worth $109,000 after buying an additional 31,287 shares during the period. Comerica Bank raised its stake in Rapt Therapeutics by 53.9% during the 1st quarter. Comerica Bank now owns 89,327 shares of the company’s stock valued at $109,000 after acquiring an additional 31,287 shares in the last quarter. Invesco Ltd. grew its stake in shares of Rapt Therapeutics by 411.7% in the first quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after purchasing an additional 47,391 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Rapt Therapeutics by 112.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock valued at $184,000 after purchasing an additional 79,967 shares in the last quarter. Finally, Checkpoint Capital L.P. bought a new position in Rapt Therapeutics in the 1st quarter valued at about $134,000. Institutional investors and hedge funds 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.