Barclays Cuts Rapt Therapeutics (NASDAQ:RAPT) Price Target to $56.00

Rapt Therapeutics (NASDAQ:RAPT) had its price objective cut by Barclays from $58.00 to $56.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Lifesci Capital raised Rapt Therapeutics to a “strong-buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, July 22nd. Zacks Research lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Leerink Partnrs raised Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. UBS Group set a $9.00 target price on shares of Rapt Therapeutics and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Finally, Leerink Partners upgraded shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $16.00 to $37.00 in a research report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rapt Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $43.40.

Rapt Therapeutics Trading Up 0.5%

RAPT stock traded up $0.14 during midday trading on Friday, hitting $29.00. The stock had a trading volume of 343,314 shares, compared to its average volume of 188,171. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $42.39. The stock has a 50-day simple moving average of $24.28 and a 200 day simple moving average of $14.42. The firm has a market capitalization of $479.66 million, a price-to-earnings ratio of -2.62 and a beta of 0.20.

Rapt Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.23. On average, equities analysts forecast that Rapt Therapeutics will post -2.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RAPT. Invesco Ltd. boosted its position in Rapt Therapeutics by 411.7% in the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock valued at $72,000 after buying an additional 47,391 shares during the last quarter. Comerica Bank increased its position in Rapt Therapeutics by 53.9% in the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock worth $109,000 after purchasing an additional 31,287 shares during the period. Callan Family Office LLC increased its position in Rapt Therapeutics by 53.9% in the first 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. Checkpoint Capital L.P. bought a new stake in Rapt Therapeutics during the 1st quarter worth about $134,000. Finally, Nuveen LLC acquired a new position in Rapt Therapeutics during the 1st quarter valued at about $143,000. Institutional investors own 99.09% of the company’s stock.

About Rapt Therapeutics

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.