Comerica Bank Purchases 31,287 Shares of Rapt Therapeutics $RAPT

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

Other large investors have also modified their holdings of the company. RTW Investments LP purchased a new position in shares of Rapt Therapeutics in the 4th quarter valued at about $18,587,000. Redmile Group LLC increased its holdings in shares of Rapt Therapeutics by 1,183.4% in the 4th quarter. Redmile Group LLC now owns 6,475,317 shares of the company's stock valued at $10,231,000 after acquiring an additional 5,970,785 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rapt Therapeutics by 112.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company's stock valued at $184,000 after acquiring an additional 79,967 shares during the last quarter. Nuveen LLC purchased a new position in shares of Rapt Therapeutics in the 1st quarter valued at about $143,000. Finally, Nuveen Asset Management LLC increased its holdings in shares of Rapt Therapeutics by 50.5% in the 4th quarter. Nuveen Asset Management LLC now owns 116,925 shares of the company's stock valued at $185,000 after acquiring an additional 39,216 shares during the last quarter. Institutional investors and hedge funds own 99.09% of the company's stock.

Rapt Therapeutics Stock Performance

Shares of NASDAQ RAPT traded up $2.50 during trading on Thursday, reaching $20.50. The stock had a trading volume of 340,003 shares, compared to its average volume of 89,805. Rapt Therapeutics has a one year low of $5.67 and a one year high of $26.56. The stock has a market cap of $339.07 million, a PE ratio of -1.45 and a beta of -0.10. The firm's 50 day moving average price is $12.08 and its two-hundred day moving average price is $9.49.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.04). On average, research analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group set a $9.00 price objective on shares of Rapt Therapeutics and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Lifesci Capital upgraded Rapt Therapeutics to a "strong-buy" rating and set a $31.00 price objective on the stock in a research report on Tuesday, July 22nd. Zacks Research downgraded Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Wells Fargo & Company reiterated an "overweight" rating and set a $38.00 target price (down from $51.00) on shares of Rapt Therapeutics in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. upgraded Rapt Therapeutics from an "underweight" rating to a "neutral" rating and set a $14.00 target price on the stock in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $21.57.

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.