Boone Capital Management LLC Makes New $20.18 Million Investment in Rapt Therapeutics $RAPT

Boone Capital Management LLC acquired a new position in shares of Rapt Therapeutics (NASDAQ:RAPT) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 782,461 shares of the company’s stock, valued at approximately $20,180,000. Rapt Therapeutics makes up about 6.6% of Boone Capital Management LLC’s portfolio, making the stock its 7th largest position. Boone Capital Management LLC owned approximately 2.82% of Rapt Therapeutics as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RAPT. Ameriprise Financial Inc. purchased a new position in shares of Rapt Therapeutics in the third quarter valued at $1,326,000. SummitTX Capital L.P. purchased a new stake in Rapt Therapeutics during the third quarter valued at $2,370,000. Bridgeway Capital Management LLC lifted its position in Rapt Therapeutics by 32.0% during the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after purchasing an additional 5,000 shares during the last quarter. Invesco Ltd. bought a new position in Rapt Therapeutics during the third quarter valued at $3,625,000. Finally, UBS Group AG grew its stake in shares of Rapt Therapeutics by 680.3% in the 3rd quarter. UBS Group AG now owns 28,808 shares of the company’s stock worth $743,000 after buying an additional 25,116 shares in the last quarter. 99.09% of the stock is currently owned by institutional investors.

Rapt Therapeutics Stock Performance

Shares of NASDAQ:RAPT opened at $58.02 on Friday. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -5.25 and a beta of 0.49. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $58.02. The firm’s 50-day moving average is $52.37 and its 200 day moving average is $36.15.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RAPT. HC Wainwright downgraded shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 target price on the stock. in a report on Tuesday, January 20th. Lifesci Capital lowered Rapt Therapeutics from an “outperform” rating to a “hold” rating in a research report on Tuesday, January 20th. Clear Str cut Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Barclays downgraded Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective on the stock. in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised Rapt Therapeutics to a “hold” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.44.

About Rapt Therapeutics

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.