RAPT Therapeutics, Inc. (NASDAQ:RAPT) Receives $9.50 Average Price Target from Analysts

RAPT Therapeutics, Inc. (NASDAQ:RAPT) has earned an average rating of “Hold” from the thirteen research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several brokerages recently weighed in on RAPT. JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. HC Wainwright reaffirmed a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday, November 12th. Wells Fargo & Company decreased their target price on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Stifel Nicolaus restated a “hold” rating and issued a $2.00 price target (down previously from $7.00) on shares of RAPT Therapeutics in a report on Wednesday, November 13th. Finally, UBS Group decreased their price objective on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Readystate Asset Management LP purchased a new stake in RAPT Therapeutics during the 3rd quarter worth $36,000. Barclays PLC increased its position in shares of RAPT Therapeutics by 277.2% during the third quarter. Barclays PLC now owns 39,729 shares of the company’s stock worth $79,000 after acquiring an additional 29,195 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of RAPT Therapeutics in the first quarter worth about $97,000. XTX Topco Ltd purchased a new position in RAPT Therapeutics in the second quarter valued at about $108,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in RAPT Therapeutics by 8.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock valued at $148,000 after purchasing an additional 3,824 shares during the last quarter. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

RAPT Therapeutics Price Performance

Shares of RAPT stock opened at $1.11 on Friday. The firm’s 50-day simple moving average is $1.93 and its 200-day simple moving average is $2.92. RAPT Therapeutics has a 1-year low of $1.03 and a 1-year high of $27.35. The firm has a market cap of $38.63 million, a P/E ratio of -0.40 and a beta of 0.33.

RAPT Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.09. Analysts expect that RAPT Therapeutics will post -2.8 earnings per share for the current fiscal year.

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.