RAPT Therapeutics (NASDAQ:RAPT) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of RAPT Therapeutics (NASDAQ:RAPT) from a neutral rating to an underweight rating in a research note published on Monday, MarketBeat Ratings reports.

Several other brokerages have also commented on RAPT. HC Wainwright restated a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday, August 20th. UBS Group reduced their price target on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.00.

RAPT Therapeutics Price Performance

Shares of RAPT stock opened at $1.57 on Monday. RAPT Therapeutics has a fifty-two week low of $1.31 and a fifty-two week high of $27.35. The stock’s 50-day moving average is $1.97 and its two-hundred day moving average is $3.06. The firm has a market cap of $54.79 million, a P/E ratio of -0.56 and a beta of 0.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RAPT. Acadian Asset Management LLC acquired a new stake in shares of RAPT Therapeutics in the first quarter worth $97,000. XTX Topco Ltd acquired a new position in RAPT Therapeutics in the 2nd quarter valued at approximately $108,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of RAPT Therapeutics by 8.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock worth $148,000 after acquiring an additional 3,824 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of RAPT Therapeutics during the 1st quarter worth approximately $161,000. Finally, Exchange Traded Concepts LLC increased its position in shares of RAPT Therapeutics by 244.7% during the third quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock valued at $179,000 after purchasing an additional 63,235 shares during the period. 99.09% of the stock is owned by institutional investors.

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.