Rapt Therapeutics (NASDAQ:RAPT) Price Target Raised to $58.00 at Barclays

Rapt Therapeutics (NASDAQ:RAPT) had its price objective upped by Barclays from $35.00 to $58.00 in a research report released on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on RAPT. Wells Fargo & Company restated an “overweight” rating and issued a $48.00 price target (up previously from $38.00) on shares of Rapt Therapeutics in a research note on Tuesday. Leerink Partners upgraded Rapt Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $16.00 to $37.00 in a report on Friday, September 26th. JPMorgan Chase & Co. raised Rapt Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $13.00 to $55.00 in a research report on Monday. Wall Street Zen raised shares of Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Zacks Research cut shares of Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Rapt Therapeutics Stock Performance

Shares of NASDAQ RAPT opened at $33.53 on Tuesday. The firm’s 50 day moving average price is $19.51 and its 200-day moving average price is $12.28. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $42.39. The company has a market cap of $554.59 million, a PE ratio of -2.37 and a beta of 0.23.

Rapt Therapeutics (NASDAQ:RAPT) last announced its quarterly 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). On average, analysts forecast that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapt Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of RAPT. ADAR1 Capital Management LLC raised its position in Rapt Therapeutics by 408.4% during the first quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company’s stock valued at $7,284,000 after purchasing an additional 4,796,455 shares during the period. Nantahala Capital Management LLC increased its position in shares of Rapt Therapeutics by 303.1% during the 1st quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock valued at $6,116,000 after purchasing an additional 3,769,414 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Rapt Therapeutics during the 1st quarter valued at $188,000. Nuveen LLC purchased a new stake in Rapt Therapeutics during the 1st quarter valued at $143,000. Finally, Checkpoint Capital L.P. bought a new stake in Rapt Therapeutics in the first quarter worth $134,000. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

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.