Rapt Therapeutics (NASDAQ:RAPT – Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Monday, MarketBeat.com reports. The firm presently has a $55.00 price objective on the stock, up from their previous price objective of $13.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 64.03% from the company’s previous close.
A number of other equities research analysts also recently commented on RAPT. Zacks Research downgraded Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Wall Street Zen upgraded Rapt Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Leerink Partnrs upgraded Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. HC Wainwright lifted their target price on Rapt Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.00.
View Our Latest Report on RAPT
Rapt Therapeutics Stock Down 0.4%
Rapt Therapeutics (NASDAQ:RAPT – Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.04). Sell-side analysts anticipate that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rapt Therapeutics
Several institutional investors and hedge funds have recently modified their holdings of RAPT. Exchange Traded Concepts LLC raised its holdings in shares of Rapt Therapeutics by 27.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 113,738 shares of the company’s stock valued at $139,000 after buying an additional 24,662 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Rapt Therapeutics by 112.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock worth $184,000 after purchasing an additional 79,967 shares during the period. Invesco Ltd. increased its holdings in 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 purchasing an additional 47,391 shares during the period. Nuveen LLC purchased a new stake in Rapt Therapeutics during the 1st quarter worth about $143,000. Finally, Callan Family Office LLC increased its holdings in Rapt Therapeutics by 53.9% during the 1st quarter. Callan Family Office LLC now owns 89,327 shares of the company’s stock worth $109,000 after purchasing an additional 31,287 shares during the period. Hedge funds and other institutional investors own 99.09% of the company’s stock.
Rapt Therapeutics Company Profile
RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the United States. The company's lead inflammation drug candidate is zelnecirnon (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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