Brokerages Set RAPT Therapeutics, Inc. (NASDAQ:RAPT) Price Target at $9.56

Shares of RAPT Therapeutics, Inc. (NASDAQ:RAPT) have been assigned an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.56.

Several equities research analysts recently issued reports on RAPT shares. Wells Fargo & Company cut their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $2.00 in a research note on Monday, November 11th. 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 research note on Monday, September 9th. JPMorgan Chase & Co. cut shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $2.00 price objective (down previously from $7.00) on shares of RAPT Therapeutics in a research report on Wednesday, November 13th.

Institutional Trading of RAPT Therapeutics

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its holdings in shares of RAPT Therapeutics by 176,725.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after acquiring an additional 706,900 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of RAPT Therapeutics by 826.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after buying an additional 263,372 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of RAPT Therapeutics by 4,183.3% in the second quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock valued at $1,424,000 after purchasing an additional 456,275 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of RAPT Therapeutics during the 2nd quarter worth approximately $108,000. Finally, Federated Hermes Inc. raised its position 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 worth $2,428,000 after purchasing an additional 520,368 shares during the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

RAPT Therapeutics Price Performance

RAPT stock opened at $1.72 on Friday. RAPT Therapeutics has a 1 year low of $0.79 and a 1 year high of $27.35. The business has a 50 day simple moving average of $1.48 and a 200-day simple moving average of $2.09. The firm has a market capitalization of $60.13 million, a PE ratio of -0.62 and a beta of 0.07.

RAPT Therapeutics (NASDAQ:RAPT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.09. On average, equities research analysts expect that RAPT Therapeutics will post -2.86 EPS for the current year.

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.