Rapt Therapeutics (NASDAQ:RAPT) Receives $48.44 Average PT from Brokerages

Rapt Therapeutics (NASDAQ:RAPT) has received an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $48.4444.

A number of brokerages have recently commented on RAPT. TD Cowen lowered shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wells Fargo & Company cut shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 target price on the stock. in a report on Tuesday, January 20th. JPMorgan Chase & Co. lifted their target price on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Barclays lowered shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded Rapt Therapeutics to a “hold” rating in a research note on Saturday, March 7th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RAPT. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Rapt Therapeutics during the 4th quarter valued at about $46,000. Invesco Ltd. lifted its stake in shares of Rapt Therapeutics by 411.7% in the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after purchasing an additional 47,391 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Rapt Therapeutics in the fourth quarter worth approximately $153,000. AQR Capital Management LLC bought a new stake in Rapt Therapeutics during the first quarter valued at approximately $188,000. Finally, Bank of Nova Scotia bought a new stake in Rapt Therapeutics during the fourth quarter valued at approximately $227,000. 99.09% of the stock is owned by hedge funds and other institutional investors.

Rapt Therapeutics Stock Performance

Shares of NASDAQ:RAPT opened at $58.02 on Thursday. Rapt Therapeutics has a fifty-two week low of $5.67 and a fifty-two week high of $58.02. The business has a 50-day simple moving average of $51.36 and a two-hundred day simple moving average of $35.50. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -5.25 and a beta of 0.49.

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.