Rapt Therapeutics (NASDAQ:RAPT) Trading Down 6.8% – Here’s Why

by · The Cerbat Gem

Rapt Therapeutics (NASDAQ:RAPT – Get Free Report)’s share price fell 6.8% during mid-day trading on Thursday . The company traded as low as $33.00 and last traded at $32.3550. 78,947 shares changed hands during trading, a decline of 70% from the average session volume of 266,995 shares. The stock had previously closed at $34.73.

Analyst Ratings Changes

RAPT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Wednesday, October 8th. Wells Fargo & Company set a $72.00 target price on shares of Rapt Therapeutics and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Leerink Partners upgraded shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $16.00 to $37.00 in a report on Friday, September 26th. Cowen began coverage on Rapt Therapeutics in a research note on Thursday, December 18th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.44.

Get Our Latest Stock Analysis on Rapt Therapeutics

Rapt Therapeutics Stock Up 9.0%

The stock has a market cap of $972.62 million, a price-to-earnings ratio of -3.17 and a beta of 0.45. The company’s 50-day moving average is $32.63 and its 200-day moving average is $22.97.

Rapt Therapeutics (NASDAQ:RAPT – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.23. On average, research analysts forecast that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Institutional Investors Weigh In On Rapt Therapeutics

Large investors have recently made changes to their positions in the company. Invesco Ltd. lifted its holdings in Rapt Therapeutics by 411.7% during the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock valued at $72,000 after purchasing an additional 47,391 shares during the last quarter. AQR Capital Management LLC bought a new position in Rapt Therapeutics in the 1st quarter worth approximately $188,000. Dimensional Fund Advisors LP acquired a new stake in shares of Rapt Therapeutics during the 3rd quarter worth approximately $231,000. UBS Group AG increased its holdings in Rapt Therapeutics by 680.3% in the third quarter. UBS Group AG now owns 28,808 shares of the company’s stock valued at $743,000 after purchasing an additional 25,116 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Rapt Therapeutics by 32.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after buying an additional 5,000 shares during the period. Institutional investors own 99.09% of the company’s stock.

About Rapt Therapeutics

(Get Free Report)

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.

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