RAPT Therapeutics (NASDAQ:RAPT) Stock Rating Upgraded by HC Wainwright

RAPT Therapeutics (NASDAQ:RAPT) was upgraded by stock analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a $10.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 491.72% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Wells Fargo & Company reduced their price target on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $2.00 price objective (down previously from $7.00) on shares of RAPT Therapeutics in a research report on Wednesday, November 13th. UBS Group cut their target price on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $2.00 in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, RAPT Therapeutics has a consensus rating of “Hold” and an average target price of $9.56.

RAPT Therapeutics Price Performance

NASDAQ:RAPT opened at $1.69 on Thursday. The company has a market capitalization of $59.08 million, a price-to-earnings ratio of -0.61 and a beta of 0.07. The business has a 50 day moving average of $1.50 and a 200 day moving average of $2.17. RAPT Therapeutics has a 1-year low of $0.79 and a 1-year high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.09. As a group, sell-side analysts anticipate that RAPT Therapeutics will post -2.86 EPS for the current year.

Institutional Trading of RAPT Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. grew its holdings in shares of RAPT Therapeutics by 176,725.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock worth $2,157,000 after acquiring an additional 706,900 shares during the period. Cubist Systematic Strategies LLC grew its stake in RAPT Therapeutics by 826.4% in the second quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after purchasing an additional 263,372 shares during the period. Acadian Asset Management LLC raised its holdings in RAPT Therapeutics by 4,183.3% in the second quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock worth $1,424,000 after purchasing an additional 456,275 shares in the last quarter. XTX Topco Ltd purchased a new position in RAPT Therapeutics during the second quarter valued at $108,000. Finally, Federated Hermes Inc. boosted its holdings in shares of RAPT Therapeutics by 188.7% during the 2nd quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock valued at $2,428,000 after buying an additional 520,368 shares in the last quarter. 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.