Orbimed Advisors LLC Purchases Shares of 13,135,260 RAPT Therapeutics, Inc. (NASDAQ:RAPT)

Orbimed Advisors LLC acquired a new position in RAPT Therapeutics, Inc. (NASDAQ:RAPT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,135,260 shares of the company's stock, valued at approximately $20,754,000. Orbimed Advisors LLC owned 37.57% of RAPT Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its holdings in RAPT Therapeutics by 994.4% during the 4th quarter. Picton Mahoney Asset Management now owns 16,175 shares of the company's stock worth $26,000 after acquiring an additional 14,697 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of RAPT Therapeutics by 298.2% in the third quarter. JPMorgan Chase & Co. now owns 16,703 shares of the company's stock worth $34,000 after purchasing an additional 25,130 shares during the period. Sei Investments Co. purchased a new stake in shares of RAPT Therapeutics in the fourth quarter worth $64,000. Barclays PLC boosted its stake in RAPT Therapeutics by 277.2% during the third quarter. Barclays PLC now owns 39,729 shares of the company's stock valued at $79,000 after buying an additional 29,195 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of RAPT Therapeutics by 401.9% in the 4th quarter. SG Americas Securities LLC now owns 53,244 shares of the company's stock valued at $84,000 after acquiring an additional 42,636 shares in the last quarter. 99.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a "buy" rating and set a $10.00 price target on shares of RAPT Therapeutics in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $4.00.

RAPT Therapeutics Price Performance

NASDAQ RAPT traded up $0.03 during trading hours on Friday, reaching $0.84. 592,690 shares of the stock traded hands, compared to its average volume of 1,262,413. The stock has a 50 day simple moving average of $1.00 and a two-hundred day simple moving average of $1.23. RAPT Therapeutics, Inc. has a 1 year low of $0.71 and a 1 year high of $4.83. The company has a market cap of $110.92 million, a price-to-earnings ratio of -0.30 and a beta of -0.04.

RAPT Therapeutics (NASDAQ:RAPT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.23. On average, sell-side analysts forecast that RAPT Therapeutics, Inc. will post -2.14 EPS for the current fiscal year.

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.