Rapt Therapeutics (NASDAQ:RAPT) Price Target Raised to $57.00 at JPMorgan Chase & Co.

Rapt Therapeutics (NASDAQ:RAPT) had its price objective upped by JPMorgan Chase & Co. from $55.00 to $57.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms also recently commented on RAPT. Leerink Partners upgraded Rapt Therapeutics from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $16.00 to $37.00 in a report on Friday, September 26th. Zacks Research cut shares of Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen upgraded Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Guggenheim assumed coverage on shares of Rapt Therapeutics in a report on Monday, October 27th. They issued a “buy” rating and a $70.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rapt Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Rapt Therapeutics Price Performance

NASDAQ:RAPT traded down $1.61 on Wednesday, reaching $27.79. The stock had a trading volume of 542,913 shares, compared to its average volume of 192,205. Rapt Therapeutics has a 12-month low of $5.67 and a 12-month high of $42.39. The company has a market cap of $459.65 million, a price-to-earnings ratio of -2.51 and a beta of 0.20. The firm’s fifty day moving average is $25.34 and its two-hundred day moving average is $14.83.

Rapt Therapeutics (NASDAQ:RAPT) last announced its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.23. As a group, research analysts forecast 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 bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in Rapt Therapeutics by 112.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock valued at $184,000 after acquiring an additional 79,967 shares during the period. Invesco Ltd. boosted its position 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 period. Nuveen LLC bought a new position in Rapt Therapeutics during the 1st quarter worth $143,000. 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 buying an additional 31,287 shares during the period. Finally, Comerica Bank lifted its stake in Rapt Therapeutics by 53.9% in the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock valued at $109,000 after buying an additional 31,287 shares during the last quarter. Institutional investors and hedge funds 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.