Rapt Therapeutics (NASDAQ:RAPT) Coverage Initiated at TD Cowen

Stock analysts at TD Cowen started coverage on shares of Rapt Therapeutics (NASDAQ:RAPT) in a research note issued on Thursday,Benzinga reports. The brokerage set a “buy” rating on the stock.

Several other research analysts have also issued reports on the stock. Barclays cut their target price on shares of Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Cowen initiated coverage on shares of Rapt Therapeutics in a report on Thursday. They set a “buy” rating on the stock. Zacks Research downgraded Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Wall Street Zen raised Rapt Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Rapt Therapeutics Stock Performance

Shares of RAPT stock opened at $33.18 on Thursday. Rapt Therapeutics has a fifty-two week low of $5.67 and a fifty-two week high of $42.39. The stock has a 50 day simple moving average of $30.64 and a two-hundred day simple moving average of $19.16. The company has a market cap of $919.42 million, a P/E ratio of -3.00 and a beta of 0.43.

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

Hedge Funds Weigh In On Rapt Therapeutics

Several large investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Rapt Therapeutics by 411.7% during the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after acquiring an additional 47,391 shares during the last quarter. Comerica Bank boosted its holdings in Rapt Therapeutics by 53.9% during the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock worth $109,000 after purchasing an additional 31,287 shares during the last quarter. Checkpoint Capital L.P. bought a new stake in Rapt Therapeutics in the 1st quarter worth about $134,000. Nuveen LLC bought a new stake in Rapt Therapeutics in the 1st quarter worth about $143,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Rapt Therapeutics by 112.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock valued at $184,000 after buying an additional 79,967 shares during the last quarter. 99.09% of the stock is currently owned by 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.