Point72 Asset Management L.P. Raises Holdings in RAPT Therapeutics, Inc. (NASDAQ:RAPT)

Point72 Asset Management L.P. lifted its position in RAPT Therapeutics, Inc. (NASDAQ:RAPT) by 176,725.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 707,300 shares of the company’s stock after purchasing an additional 706,900 shares during the quarter. Point72 Asset Management L.P.’s holdings in RAPT Therapeutics were worth $2,157,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CenterBook Partners LP bought a new stake in RAPT Therapeutics in the 4th quarter worth approximately $781,000. Artia Global Partners LP purchased a new position in shares of RAPT Therapeutics in the fourth quarter valued at $488,000. Octagon Capital Advisors LP bought a new stake in RAPT Therapeutics in the fourth quarter worth $7,256,000. Perceptive Advisors LLC raised its stake in RAPT Therapeutics by 11.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,139,950 shares of the company’s stock valued at $53,178,000 after purchasing an additional 219,292 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in RAPT Therapeutics by 442.7% during the first quarter. Los Angeles Capital Management LLC now owns 50,894 shares of the company’s stock valued at $457,000 after purchasing an additional 41,516 shares during the last quarter. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RAPT. UBS Group reduced 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. HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a research report on Tuesday, August 20th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.17.

RAPT Therapeutics Price Performance

RAPT Therapeutics stock opened at $1.99 on Friday. The firm has a market capitalization of $69.45 million, a P/E ratio of -0.65 and a beta of 0.33. RAPT Therapeutics, Inc. has a 1-year low of $1.73 and a 1-year high of $27.35. The company’s 50-day moving average is $2.24 and its 200 day moving average is $4.37.

RAPT Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.03. Research analysts anticipate that RAPT Therapeutics, Inc. will post -2.73 earnings per share for the current fiscal year.

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.