Rapt Therapeutics (NASDAQ:RAPT) Given Consensus Rating of “Hold” by Analysts

Rapt Therapeutics (NASDAQ:RAPT) has received a consensus rating of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $48.4444.

Several analysts recently issued reports on RAPT shares. Barclays lowered 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 Wednesday, January 21st. Clear Str lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen raised Rapt Therapeutics to a “hold” rating in a report on Saturday, March 7th. Finally, Piper Sandler cut shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 target price for the company. in a research note on Tuesday, January 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RAPT. Boone Capital Management LLC bought a new stake in Rapt Therapeutics in the third quarter valued at approximately $20,180,000. Dimensional Fund Advisors LP acquired a new stake in shares of Rapt Therapeutics in the third quarter valued at approximately $231,000. Bank of Nova Scotia bought a new position in shares of Rapt Therapeutics during the 4th quarter worth approximately $227,000. AQR Capital Management LLC bought a new position in shares of Rapt Therapeutics during the 1st quarter worth approximately $188,000. Finally, Invesco Ltd. increased its holdings in shares of Rapt Therapeutics by 411.7% during the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after acquiring an additional 47,391 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics Price Performance

Shares of NASDAQ:RAPT opened at $58.02 on Monday. The company’s 50-day moving average price is $57.90 and its two-hundred day moving average price is $40.98. Rapt Therapeutics has a one year low of $5.67 and a one year high of $58.02. The stock has a market capitalization of $1.61 billion, a PE ratio of -5.25 and a beta of 0.49.

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.