HC Wainwright Lowers RAPT Therapeutics (NASDAQ:RAPT) Price Target to $50.00

RAPT Therapeutics (NASDAQ:RAPTGet Rating) had its price objective reduced by investment analysts at HC Wainwright from $56.00 to $50.00 in a report released on Thursday, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 173.82% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of RAPT Therapeutics from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, March 11th. Roth Capital restated a “buy” rating on shares of RAPT Therapeutics in a research report on Wednesday, March 16th. Piper Sandler decreased their target price on shares of RAPT Therapeutics from $52.00 to $30.00 in a research report on Thursday, May 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of RAPT Therapeutics in a research report on Friday, April 1st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $50.50.

NASDAQ RAPT traded up $0.54 on Thursday, hitting $18.26. The stock had a trading volume of 1,243 shares, compared to its average volume of 405,730. The business’s fifty day moving average price is $15.35 and its 200 day moving average price is $22.03. RAPT Therapeutics has a 52-week low of $9.85 and a 52-week high of $40.74. The stock has a market cap of $541.23 million, a price-to-earnings ratio of -7.15 and a beta of 1.00.

RAPT Therapeutics (NASDAQ:RAPTGet Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.03). The company had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $0.40 million. RAPT Therapeutics had a negative net margin of 2,263.55% and a negative return on equity of 37.82%. On average, analysts predict that RAPT Therapeutics will post -3.19 EPS for the current fiscal year.

In related news, insider Dirk G. Brockstedt sold 2,647 shares of the company’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $23.05, for a total transaction of $61,013.35. Following the completion of the sale, the insider now owns 19,812 shares of the company’s stock, valued at approximately $456,666.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Group Ii Lp Column acquired 10,236 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were acquired at an average cost of $12.50 per share, with a total value of $127,950.00. Following the purchase, the insider now owns 1,218,648 shares in the company, valued at approximately $15,233,100. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,271,636 shares of company stock valued at $13,592,335 and have sold 6,367 shares valued at $140,729. 5.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC grew its stake in shares of RAPT Therapeutics by 19.6% in the 3rd quarter. Perceptive Advisors LLC now owns 2,907,565 shares of the company’s stock valued at $90,280,000 after buying an additional 476,905 shares during the period. Morgan Stanley grew its stake in shares of RAPT Therapeutics by 120.3% in the 3rd quarter. Morgan Stanley now owns 763,744 shares of the company’s stock valued at $23,714,000 after buying an additional 417,015 shares during the period. Woodline Partners LP purchased a new stake in shares of RAPT Therapeutics in the 1st quarter valued at approximately $7,882,000. Atika Capital Management LLC purchased a new stake in shares of RAPT Therapeutics in the 4th quarter valued at approximately $7,724,000. Finally, Wellington Management Group LLP lifted its holdings in shares of RAPT Therapeutics by 14.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,203 shares of the company’s stock worth $46,798,000 after acquiring an additional 186,068 shares during the last quarter. 95.22% of the stock is owned by institutional investors.

RAPT Therapeutics Company Profile (Get Rating)

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovering, developing, and commercializing oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases. Its lead inflammation drug candidate is RPT193, a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.

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