Rapt Therapeutics (NASDAQ:RAPT) Cut to Neutral at HC Wainwright

HC Wainwright lowered shares of Rapt Therapeutics (NASDAQ:RAPT) from a buy rating to a neutral rating in a research note published on Tuesday morning, MarketBeat reports. HC Wainwright currently has $58.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. 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. Guggenheim cut shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. Wells Fargo & Company set a $72.00 target price on shares of Rapt Therapeutics and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, Piper Sandler cut Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.44.

Rapt Therapeutics Trading Up 0.1%

NASDAQ:RAPT opened at $57.64 on Tuesday. Rapt Therapeutics has a 12-month low of $5.67 and a 12-month high of $57.71. The firm has a market cap of $1.60 billion, a PE ratio of -5.21 and a beta of 0.45. The stock has a fifty day moving average price of $34.48 and a 200 day moving average price of $24.19.

Rapt Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings results 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. Equities analysts forecast that Rapt Therapeutics will post -2.14 EPS for the current year.

Hedge Funds Weigh In On Rapt Therapeutics

Several hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of Rapt Therapeutics by 411.7% during the first quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after purchasing an additional 47,391 shares in the last quarter. AQR Capital Management LLC purchased a new position in Rapt Therapeutics during the 1st quarter worth approximately $188,000. Dimensional Fund Advisors LP acquired a new position in Rapt Therapeutics during the third quarter worth approximately $231,000. Bridgeway Capital Management LLC lifted its stake in Rapt Therapeutics by 32.0% in the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after buying an additional 5,000 shares during the last quarter. Finally, UBS Group AG lifted its stake in Rapt Therapeutics by 680.3% in the third quarter. UBS Group AG now owns 28,808 shares of the company’s stock valued at $743,000 after buying an additional 25,116 shares during the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics News Summary

Here are the key news stories impacting Rapt Therapeutics this week:

• Positive Sentiment: GSK agreed to acquire Rapt for $58.00 in cash, valuing the deal at about $2.2 billion — this is the main positive driver behind the stock’s rally because it sets a definitive cash exit price that values RAPT well above prior levels. Article Title
• Neutral Sentiment: Wells Fargo reaffirmed an Equal Weight rating on RAPT — this maintains a neutral broker view and does not materially change the takeout valuation dynamic. Article Title
• Negative Sentiment: Multiple research firms cut or lowered ratings after the deal news (HC Wainwright downgraded to Neutral; Lifesci Capital lowered to Hold; Barclays cut to Equal Weight with a $58 target; Clear Street/others moved to Hold/Market Perform). Downgrades typically reduce near-term upside from additional analyst-driven buying. Article Title
• Negative Sentiment: An investor class‑action/representation firm (Kahn Swick & Foti) opened an investigation into whether the $58 per‑share consideration and the sale process are adequate — this introduces legal/transactional scrutiny that could delay closing or generate litigation costs/settlement risk. Article Title

Rapt Therapeutics Company Profile

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.