Rapt Therapeutics (NASDAQ:RAPT) Sets New 1-Year High – Still a Buy?

Rapt Therapeutics (NASDAQ:RAPT) shares reached a new 52-week high on Monday . The stock traded as high as $58.00 and last traded at $57.9950, with a volume of 1827566 shares traded. The stock had previously closed at $57.98.

Analyst Upgrades and Downgrades

RAPT has been the subject of several research analyst reports. Lifesci Capital lowered shares of Rapt Therapeutics from an “outperform” rating to a “hold” rating in a report on Tuesday, January 20th. Guggenheim cut Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 20th. Clear Str downgraded Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. HC Wainwright cut Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a report on Tuesday, January 20th. Finally, TD Cowen lowered Rapt Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rapt Therapeutics presently has an average rating of “Hold” and a consensus target price of $48.44.

Rapt Therapeutics Stock Up 0.0%

The company has a market capitalization of $1.61 billion, a P/E ratio of -5.24 and a beta of 0.49. The business has a fifty day moving average price of $47.72 and a 200 day moving average price of $33.03.

Institutional Trading of Rapt Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fcpm Iii Services B.V. boosted its holdings in Rapt Therapeutics by 432.6% during the fourth quarter. Fcpm Iii Services B.V. now owns 1,833,333 shares of the company’s stock worth $62,095,000 after purchasing an additional 1,489,096 shares during the last quarter. Orbimed Advisors LLC boosted its stake in shares of Rapt Therapeutics by 51.2% during the 4th quarter. Orbimed Advisors LLC now owns 1,642,891 shares of the company’s stock worth $55,645,000 after buying an additional 556,273 shares during the last quarter. RTW Investments LP grew its holdings in shares of Rapt Therapeutics by 11.3% in the 4th quarter. RTW Investments LP now owns 1,637,165 shares of the company’s stock valued at $55,451,000 after acquiring an additional 166,666 shares in the last quarter. Siren L.L.C. increased its position in shares of Rapt Therapeutics by 136.9% in the fourth quarter. Siren L.L.C. now owns 1,375,000 shares of the company’s stock valued at $46,571,000 after acquiring an additional 794,534 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new stake in shares of Rapt Therapeutics in the fourth quarter valued at about $33,305,000. 99.09% of the stock is currently owned by institutional investors and hedge funds.

Rapt Therapeutics Company Profile

RAPT Therapeutics, Inc (NASDAQ:RAPT) is a clinical-stage biotechnology company developing novel therapeutics for autoimmune and allergic diseases. Founded in 2013 and headquartered in San Diego, California, RAPT applies tissue-selective immunology to design small molecule and biologic candidates that modulate immune cell trafficking and tissue-resident pathways. The company’s research platform enables the identification of targets that drive tissue inflammation with the goal of achieving improved efficacy and safety profiles over current therapies.

The company’s lead asset, RPT193, is an orally available antagonist of the CC chemokine receptor 4 (CCR4), currently in clinical development for atopic dermatitis and allergic asthma.