Rapt Therapeutics’ (RAPT) “Hold” Rating Reaffirmed at TD Cowen

Rapt Therapeutics (NASDAQ:RAPT)‘s stock had its “hold” rating reiterated by TD Cowen in a research note issued on Tuesday,Benzinga reports.

A number of other equities research analysts have also issued reports on RAPT. Piper Sandler lowered Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Tuesday. Leerink Partnrs upgraded shares of Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Barclays dropped their price objective on shares of Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Leerink Partners raised shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $16.00 to $37.00 in a research report on Friday, September 26th. 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 report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.78.

Rapt Therapeutics Price Performance

Shares of RAPT stock traded up $22.41 during trading on Tuesday, reaching $57.51. The company’s stock had a trading volume of 27,542,856 shares, compared to its average volume of 2,491,084. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $57.61. The stock’s 50-day moving average price is $32.75 and its 200 day moving average price is $23.37. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -5.20 and a beta of 0.45.

Rapt Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.23. On average, sell-side analysts anticipate that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapt Therapeutics

Institutional investors have recently made changes to their positions in the stock. Boone Capital Management LLC purchased a new stake in shares of Rapt Therapeutics during the third quarter worth about $20,180,000. AQR Capital Management LLC acquired a new position in Rapt Therapeutics in the 1st quarter valued at $188,000. Invesco Ltd. purchased a new position in shares of Rapt Therapeutics during the 3rd quarter worth $3,625,000. SummitTX Capital L.P. acquired a new stake in shares of Rapt Therapeutics during the third quarter worth $2,370,000. Finally, Velan Capital Investment Management LP purchased a new stake in shares of Rapt Therapeutics in the third quarter valued at $2,063,000. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

About Rapt Therapeutics

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.