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

RAPT Therapeutics, Inc. (NASDAQ:RAPT) has received an average recommendation of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $9.56.

A number of brokerages recently commented on RAPT. Piper Sandler cut shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $2.00 in a research report on Monday, November 11th. Wells Fargo & Company dropped their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. HC Wainwright raised shares of RAPT Therapeutics from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, December 26th. 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 restated 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.

RAPT Therapeutics Stock Performance

RAPT opened at $1.14 on Wednesday. The stock has a market capitalization of $39.85 million and a P/E ratio of -0.41. The stock has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.87. RAPT Therapeutics has a 12-month low of $0.79 and a 12-month high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.09. On average, equities research analysts predict that RAPT Therapeutics will post -2.43 EPS for the current year.

Hedge Funds Weigh In On RAPT Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its holdings in shares of RAPT Therapeutics by 176,725.0% during the second 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 in the last quarter. Barclays PLC increased its position in shares of RAPT Therapeutics by 277.2% during the third quarter. Barclays PLC now owns 39,729 shares of the company’s stock valued at $79,000 after acquiring an additional 29,195 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in RAPT Therapeutics by 826.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after acquiring an additional 263,372 shares during the last quarter. XTX Topco Ltd bought a new position in RAPT Therapeutics in the 2nd quarter valued at approximately $108,000. Finally, Renaissance Technologies LLC boosted its stake in RAPT Therapeutics by 108.1% during the 2nd quarter. Renaissance Technologies LLC now owns 203,900 shares of the company’s stock valued at $622,000 after purchasing an additional 105,900 shares during the last quarter. 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.