Rapt Therapeutics (NASDAQ:RAPT) Reaches New 12-Month High – Time to Buy?

Rapt Therapeutics (NASDAQ:RAPT)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $30.17 and last traded at $30.41, with a volume of 89513 shares. The stock had previously closed at $29.10.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Saturday, September 27th. Leerink Partnrs upgraded shares of Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. UBS Group set a $9.00 price objective on shares of Rapt Therapeutics and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. Lifesci Capital upgraded shares of Rapt Therapeutics to a “strong-buy” rating and set a $31.00 target price for the company in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Rapt Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.50.

Rapt Therapeutics Trading Up 3.6%

The firm has a market cap of $498.52 million, a P/E ratio of -2.13 and a beta of 0.23. The firm’s 50 day moving average is $15.09 and its two-hundred day moving average is $10.71.

Rapt Therapeutics (NASDAQ:RAPT) last posted its earnings results on Thursday, August 7th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.04). Analysts predict that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapt Therapeutics

Hedge funds have recently modified their holdings of the business. Comerica Bank grew 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 valued at $109,000 after purchasing an additional 31,287 shares during the period. Nuveen Asset Management LLC increased its position in shares of Rapt Therapeutics by 50.5% during the fourth quarter. Nuveen Asset Management LLC now owns 116,925 shares of the company’s stock worth $185,000 after acquiring an additional 39,216 shares in the last quarter. AQR Capital Management LLC bought a new position in Rapt Therapeutics during the 1st quarter worth about $188,000. Invesco Ltd. raised its stake in shares of 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. Finally, Nuveen LLC bought a new stake in shares of Rapt Therapeutics in the first quarter valued at about $143,000. 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.