Wall Street Zen Upgrades Rapt Therapeutics (NASDAQ:RAPT) to Hold

Key Points

• Rapt Therapeutics received an upgrade from a "sell" to a "hold" rating by Wall Street Zen, alongside mixed ratings from other analysts.
• The company's stock price has fluctuated significantly, with a 12-month low of $5.67 and a high of $27.84, and it recently opened at $13.31.
• Despite reporting a smaller-than-expected loss in its recent quarterly earnings, analysts project a consensus EPS of -2.14 for the current fiscal year.

Wall Street Zen upgraded shares of Rapt Therapeutics (NASDAQ:RAPT - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

Other equities analysts have also issued research reports about the company. UBS Group dropped their price objective on Rapt Therapeutics from $16.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. HC Wainwright boosted their target price on Rapt Therapeutics to $27.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, Lifesci Capital upgraded Rapt Therapeutics to a "strong-buy" rating and set a $31.00 target price on the stock in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.67.

Rapt Therapeutics Price Performance

Shares of RAPT traded down $0.82 during trading hours on Friday, hitting $11.86. The stock had a trading volume of 8,213 shares, compared to its average volume of 112,136. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $26.56. The firm has a market capitalization of $196.03 million, a PE ratio of -0.62 and a beta of -0.09. The stock has a fifty day moving average price of $8.98 and a 200 day moving average price of $8.72.

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

Institutional Investors Weigh In On Rapt Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAPT. Orbimed Advisors LLC purchased a new stake in Rapt Therapeutics during the fourth quarter valued at approximately $20,754,000. TCG Crossover Management LLC purchased a new stake in Rapt Therapeutics during the fourth quarter valued at approximately $19,751,000. Foresite Capital Management VI LLC purchased a new stake in Rapt Therapeutics during the fourth quarter valued at approximately $19,750,000. RTW Investments LP purchased a new stake in Rapt Therapeutics during the fourth quarter valued at approximately $18,587,000. Finally, BVF Inc. IL purchased a new stake in shares of Rapt Therapeutics in the fourth quarter worth approximately $14,595,000. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

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.