Rapt Therapeutics (NASDAQ:RAPT) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Rapt Therapeutics has received a consensus rating of “Moderate Buy” from analysts, with a majority recommending either hold or buy ratings, while the average 1-year price target stands at $23.50.
• Recent institutional investments include a 411.7% increase in holdings by Invesco Ltd, reflecting growing interest as 99.09% of the stock is now owned by hedge funds and institutional investors.
• The company reported an earnings miss, posting ($0.65) earnings per share, exceeding analysts' estimates of (0.61), with forecasts suggesting a -2.14 EPS for the current fiscal year.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $23.50.

RAPT has been the subject of several research reports. HC Wainwright raised their target price on Rapt Therapeutics to $27.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. UBS Group set a $9.00 price target on shares of Rapt Therapeutics and gave the company a "neutral" rating in a report on Tuesday, August 12th. Zacks Research lowered shares of 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 issued a $38.00 target price (down from $51.00) on shares of Rapt Therapeutics in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Rapt Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th.

Institutional Investors Weigh In On Rapt Therapeutics

Several hedge funds have recently modified their holdings of RAPT. Simplicity Wealth LLC acquired a new position in shares of Rapt Therapeutics in the 1st quarter valued at $25,000. Invesco Ltd. lifted its stake in Rapt Therapeutics by 411.7% during the first quarter. Invesco Ltd. now owns 58,901 shares of the company's stock valued at $72,000 after buying an additional 47,391 shares in the last quarter. Comerica Bank boosted its holdings in shares of Rapt Therapeutics by 53.9% in the first quarter. Comerica Bank now owns 89,327 shares of the company's stock worth $109,000 after buying an additional 31,287 shares during the period. Callan Family Office LLC increased its position in shares of Rapt Therapeutics by 53.9% in the first quarter. Callan Family Office LLC now owns 89,327 shares of the company's stock worth $109,000 after acquiring an additional 31,287 shares in the last quarter. Finally, Checkpoint Capital L.P. purchased a new position in shares of Rapt Therapeutics in the first quarter worth approximately $134,000. 99.09% of the stock is owned by hedge funds and other institutional investors.

Rapt Therapeutics Price Performance

Rapt Therapeutics stock opened at $30.14 on Monday. Rapt Therapeutics has a 12-month low of $5.67 and a 12-month high of $31.76. The stock has a market capitalization of $498.52 million, a PE ratio of -2.13 and a beta of 0.23. The firm has a 50 day simple moving average of $15.09 and a 200-day simple moving average of $10.72.

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

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