Rapt Therapeutics (NASDAQ:RAPT) Lowered to Sell Rating by Wall Street Zen

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

RAPT has been the subject of a number of other reports. HC Wainwright upgraded shares of Rapt Therapeutics to a "strong-buy" rating and set a $48.00 price target for the company in a report on Thursday, May 22nd. UBS Group lowered their price target on Rapt Therapeutics from $16.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $24.00.

Rapt Therapeutics Stock Up 0.1%

Shares of RAPT opened at $7.43 on Friday. The company's fifty day moving average is $7.46 and its 200-day moving average is $8.89. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $30.60. The firm has a market cap of $122.89 million, a price-to-earnings ratio of -0.39 and a beta of -0.11.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($2.48) by $1.84. As a group, research analysts predict that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapt Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in RAPT. Los Angeles Capital Management LLC grew its position in shares of Rapt Therapeutics by 9.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 219,997 shares of the company's stock valued at $348,000 after purchasing an additional 18,558 shares during the last quarter. Callan Family Office LLC acquired a new stake in Rapt Therapeutics during the fourth quarter worth about $92,000. Picton Mahoney Asset Management grew its position in Rapt Therapeutics by 994.4% during the fourth quarter. Picton Mahoney Asset Management now owns 16,175 shares of the company's stock worth $26,000 after buying an additional 14,697 shares in the last quarter. Sei Investments Co. acquired a new stake in Rapt Therapeutics during the fourth quarter worth about $64,000. Finally, JPMorgan Chase & Co. grew its position in Rapt Therapeutics by 1,128.3% during the fourth quarter. JPMorgan Chase & Co. now owns 205,164 shares of the company's stock worth $324,000 after buying an additional 188,461 shares in the last quarter. 99.09% of the stock is owned by institutional investors and hedge funds.

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.

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