Rapt Therapeutics (NASDAQ:RAPT) Sets New 52-Week High – Time to Buy?

Rapt Therapeutics (NASDAQ:RAPT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $57.61 and last traded at $57.5450, with a volume of 14483880 shares changing hands. The stock had previously closed at $35.10.

Analysts Set New Price Targets

RAPT has been the topic of a number of recent research reports. Leerink Partnrs upgraded Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Barclays cut their price objective on Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Leerink Partners upgraded shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $16.00 to $37.00 in a report on Friday, September 26th. Finally, TD Cowen assumed coverage on shares of Rapt Therapeutics in a research note on Thursday, December 18th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.33.

Rapt Therapeutics Stock Up 63.9%

The stock’s 50 day moving average price is $32.75 and its two-hundred day moving average price is $23.37. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -5.20 and a beta of 0.45.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RAPT. Invesco Ltd. grew its position in shares of Rapt Therapeutics by 411.7% in the first 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 last quarter. AQR Capital Management LLC acquired a new stake in Rapt Therapeutics in the 1st quarter valued at approximately $188,000. Dimensional Fund Advisors LP bought a new position in Rapt Therapeutics in the 3rd quarter worth approximately $231,000. Bridgeway Capital Management LLC lifted its holdings in shares of Rapt Therapeutics by 32.0% during the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock worth $532,000 after buying an additional 5,000 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Rapt Therapeutics by 680.3% in the third quarter. UBS Group AG now owns 28,808 shares of the company’s stock valued at $743,000 after acquiring an additional 25,116 shares during the period. Institutional investors and hedge funds own 99.09% of the company’s stock.

Rapt Therapeutics Company Profile

RAPT Therapeutics, Inc (NASDAQ:RAPT) is a clinical-stage biotechnology company developing novel therapeutics for autoimmune and allergic diseases. Founded in 2013 and headquartered in San Diego, California, RAPT applies tissue-selective immunology to design small molecule and biologic candidates that modulate immune cell trafficking and tissue-resident pathways. The company’s research platform enables the identification of targets that drive tissue inflammation with the goal of achieving improved efficacy and safety profiles over current therapies.

The company’s lead asset, RPT193, is an orally available antagonist of the CC chemokine receptor 4 (CCR4), currently in clinical development for atopic dermatitis and allergic asthma.