Guggenheim Downgrades RAPT Therapeutics (NASDAQ:RAPT) to Neutral

Guggenheim cut shares of RAPT Therapeutics (NASDAQ:RAPT - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat Ratings reports.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of RAPT Therapeutics from $15.00 to $13.00 and set a neutral rating on the stock in a research note on Wednesday, March 27th. Cantor Fitzgerald cut shares of RAPT Therapeutics from an overweight rating to a neutral rating in a research note on Tuesday, February 20th. Barclays cut shares of RAPT Therapeutics from an overweight rating to an equal weight rating and lowered their target price for the company from $13.00 to $4.00 in a research note on Friday. Leerink Partnrs cut shares of RAPT Therapeutics from an outperform rating to a market perform rating in a research report on Wednesday, February 21st. Finally, Wolfe Research began coverage on shares of RAPT Therapeutics in a research report on Thursday, February 15th. They set an outperform rating and a $39.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RAPT Therapeutics has a consensus rating of Hold and an average price target of $24.67.

RAPT Therapeutics Trading Down 7.1 %

Shares of RAPT Therapeutics stock traded down $0.33 on Friday, hitting $4.33. 2,152,592 shares of the company's stock were exchanged, compared to its average volume of 807,607. The company has a 50-day simple moving average of $8.32 and a 200-day simple moving average of $15.19. RAPT Therapeutics has a 1 year low of $4.18 and a 1 year high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.05. As a group, equities analysts anticipate that RAPT Therapeutics will post -3.19 earnings per share for the current year.

Hedge Funds Weigh In On RAPT Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its stake in RAPT Therapeutics by 65.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,602 shares of the company's stock worth $59,000 after acquiring an additional 2,621 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of RAPT Therapeutics in the 1st quarter worth approximately $97,000. Exchange Traded Concepts LLC lifted its position in shares of RAPT Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,190 shares of the company's stock worth $179,000 after purchasing an additional 1,824 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of RAPT Therapeutics in the 4th quarter worth approximately $233,000. Finally, SG Americas Securities LLC purchased a new stake in shares of RAPT Therapeutics in the 4th quarter worth approximately $244,000. 99.09% of the stock is currently owned by institutional investors.

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.