Rapt Therapeutics $RAPT Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its stake in Rapt Therapeutics by 53.9%, owning approximately 89,327 shares now valued at $109,000.
• The company's market capitalization stands at $268.25 million, with shares trading between a 52-week low of $5.67 and a high of $26.56.
• Recent earnings report revealed a loss of ($0.65) EPS, missing estimates, while analysts have a consensus rating of "Moderate Buy" with a target of $21.57.

Comerica Bank lifted its position in Rapt Therapeutics (NASDAQ:RAPT - Free Report) by 53.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,327 shares of the company's stock after acquiring an additional 31,287 shares during the period. Comerica Bank owned 0.07% of Rapt Therapeutics worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in RAPT. Callan Family Office LLC lifted its position in Rapt Therapeutics by 53.9% during 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 in the last quarter. Nuveen LLC purchased a new stake in Rapt Therapeutics in the first quarter valued at $143,000. Invesco Ltd. raised its position in Rapt Therapeutics by 411.7% in the first 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. Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 79,967 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Rapt Therapeutics by 27.7% in the first quarter. Exchange Traded Concepts LLC now owns 113,738 shares of the company's stock valued at $139,000 after purchasing an additional 24,662 shares during the period. 99.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RAPT. UBS Group set a $9.00 price objective on Rapt Therapeutics and gave the company a "neutral" rating in a report on Tuesday, August 12th. Wall Street Zen raised Rapt Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. HC Wainwright boosted their target price on Rapt Therapeutics to $27.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Zacks Research cut Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Lifesci Capital raised Rapt Therapeutics to a "strong-buy" rating and set a $31.00 target price for the company in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Rapt Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $21.57.

Rapt Therapeutics Stock Up 7.4%

RAPT traded up $1.20 on Monday, hitting $17.42. 132,613 shares of the company traded hands, compared to its average volume of 82,743. The company has a 50 day moving average of $11.46 and a 200-day moving average of $9.29. The stock has a market capitalization of $288.13 million, a PE ratio of -1.23 and a beta of -0.10. Rapt Therapeutics has a 12-month low of $5.67 and a 12-month high of $26.56.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). On average, research analysts anticipate that Rapt Therapeutics will post -2.14 EPS for the current 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.