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

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

A number of other research firms have also weighed in on RAPT. UBS Group cut their price objective on shares of Rapt Therapeutics from $16.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. HC Wainwright raised Rapt Therapeutics to a "strong-buy" rating and set a $48.00 price target on the stock in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $24.00.

Rapt Therapeutics Price Performance

Rapt Therapeutics stock traded up $0.78 during trading hours on Friday, hitting $8.22. 87,881 shares of the stock traded hands, compared to its average volume of 161,379. The firm's 50 day moving average price is $7.46 and its 200-day moving average price is $8.89. The stock has a market capitalization of $135.96 million, a price-to-earnings ratio of -0.43 and a beta of -0.11. Rapt Therapeutics has a 1 year low of $5.67 and a 1 year high of $30.60.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.64) EPS for the quarter, beating analysts' consensus estimates of ($2.48) by $1.84. Research analysts forecast that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

Institutional Trading of Rapt Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAPT. Los Angeles Capital Management LLC boosted its position in Rapt Therapeutics by 9.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 219,997 shares of the company's stock worth $348,000 after purchasing an additional 18,558 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Rapt Therapeutics during the 4th quarter worth approximately $92,000. Picton Mahoney Asset Management lifted its position in shares of Rapt Therapeutics by 994.4% during the 4th quarter. Picton Mahoney Asset Management now owns 16,175 shares of the company's stock valued at $26,000 after buying an additional 14,697 shares in the last quarter. Sei Investments Co. acquired a new stake in Rapt Therapeutics in the 4th quarter valued at $64,000. Finally, JPMorgan Chase & Co. increased its holdings in Rapt Therapeutics by 1,128.3% in the 4th quarter. JPMorgan Chase & Co. now owns 205,164 shares of the company's stock worth $324,000 after acquiring an additional 188,461 shares in the last quarter. Institutional investors and hedge funds own 99.09% of the company's stock.

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.