Orbimed Advisors LLC Takes Position in RAPT Therapeutics, Inc. (NASDAQ:RAPT)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Medicxi Ventures Management Jersey Ltd acquired a new position in RAPT Therapeutics during the fourth quarter worth approximately $35,316,000. TCG Crossover Management LLC acquired a new position in RAPT Therapeutics during the fourth quarter worth approximately $19,751,000. Foresite Capital Management VI LLC acquired a new position in RAPT Therapeutics during the fourth quarter worth approximately $19,750,000. BVF Inc. IL acquired a new position in RAPT Therapeutics during the fourth quarter worth approximately $14,595,000. Finally, Deep Track Capital LP acquired a new position in RAPT Therapeutics during the fourth quarter worth approximately $9,498,000. Institutional investors and hedge funds own 99.09% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed 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 issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $4.00.

RAPT Therapeutics Stock Up 3.7%

Shares of RAPT Therapeutics stock traded up $0.03 during trading hours on Friday, hitting $0.84. The company's stock had a trading volume of 592,690 shares, compared to its average volume of 1,265,305. RAPT Therapeutics, Inc. has a 1-year low of $0.71 and a 1-year high of $4.83. The business has a fifty day moving average of $1.00 and a 200 day moving average of $1.21. The company has a market capitalization of $110.92 million, a PE ratio of -0.30 and a beta of -0.04.

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

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.