JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Rapt Therapeutics (NASDAQ:RAPT) Stock

Rapt Therapeutics (NASDAQ:RAPT) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $55.00 to $57.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 93.29% from the company’s previous close.

Several other analysts have also recently commented on RAPT. Zacks Research cut Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Leerink Partners raised Rapt Therapeutics from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $16.00 to $37.00 in a research report on Friday, September 26th. Leerink Partnrs raised shares of Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Wells Fargo & Company set a $72.00 price objective on Rapt Therapeutics and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Guggenheim began coverage on shares of Rapt Therapeutics in a research report on Monday, October 27th. They issued a “buy” rating and a $70.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rapt Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $46.67.

Rapt Therapeutics Stock Up 0.0%

NASDAQ RAPT traded up $0.01 during trading hours on Wednesday, hitting $29.49. 377,530 shares of the company were exchanged, compared to its average volume of 189,883. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $42.39. The firm has a market cap of $487.76 million, a price-to-earnings ratio of -2.66 and a beta of 0.20. The company has a 50 day moving average of $24.98 and a two-hundred day moving average of $14.73.

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

Institutional Investors Weigh In On Rapt Therapeutics

Several institutional investors have recently bought and sold shares of RAPT. ADAR1 Capital Management LLC grew its stake in Rapt Therapeutics by 408.4% in 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 in the last quarter. Nantahala Capital Management LLC increased its holdings in Rapt Therapeutics by 303.1% during the first quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock worth $6,116,000 after buying an additional 3,769,414 shares during the last quarter. AQR Capital Management LLC bought a new stake in Rapt Therapeutics during the first quarter worth $188,000. Charles Schwab Investment Management Inc. raised its position in Rapt Therapeutics by 112.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock worth $184,000 after acquiring an additional 79,967 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Rapt Therapeutics in the 1st quarter valued at about $143,000. Institutional investors own 99.09% of the company’s stock.

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.