Rapt Therapeutics (NASDAQ:RAPT) Rating Increased to Overweight at JPMorgan Chase & Co.

Key Points

• Rapt Therapeutics was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating, with a target price of $55.00, suggesting a potential upside of 51.71%.
• Other firms have mixed ratings on Rapt, with two giving a Strong Buy rating, while the consensus rating stands at Moderate Buy with a target price of $29.33.
• The stock traded up to $36.25 on Monday, with a significant trading volume of over 3 million shares, reflecting increased investor interest.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Monday,Briefing.com Automated Import reports. The firm presently has a $55.00 price objective on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 51.71% from the company's current price.

Several other research firms have also commented on RAPT. Leerink Partnrs upgraded Rapt Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 25th. Wells Fargo & Company restated an "overweight" rating and set a $38.00 price target (down from $51.00) on shares of Rapt Therapeutics in a research note on Friday, August 8th. Barclays set a $35.00 price target on Rapt Therapeutics and gave the stock an "overweight" rating in a research note on Monday, October 13th. Leerink Partners upgraded Rapt Therapeutics from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $16.00 to $37.00 in a research note on Friday, September 26th. Finally, Zacks Research lowered Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.33.

Rapt Therapeutics Stock Performance

Rapt Therapeutics stock traded up $6.91 during trading on Monday, hitting $36.25. The company's stock had a trading volume of 3,280,965 shares, compared to its average volume of 149,453. The stock has a market capitalization of $599.62 million, a price-to-earnings ratio of -2.59 and a beta of 0.23. The stock's fifty day moving average is $18.57 and its 200 day moving average is $11.95. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $42.39.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.04). On average, research analysts anticipate that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RAPT. ADAR1 Capital Management LLC increased its position in shares of Rapt Therapeutics by 408.4% during the 1st quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company's stock valued at $7,284,000 after purchasing an additional 4,796,455 shares during the period. Nantahala Capital Management LLC increased its position in shares of Rapt Therapeutics by 303.1% during the 1st quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company's stock valued at $6,116,000 after purchasing an additional 3,769,414 shares during the period. AQR Capital Management LLC acquired a new position in shares of Rapt Therapeutics during the 1st quarter valued at $188,000. Nuveen LLC acquired a new position in shares of Rapt Therapeutics during the 1st quarter valued at $143,000. Finally, Checkpoint Capital L.P. bought a new stake in shares of Rapt Therapeutics during the 1st quarter worth $134,000. Hedge funds and other institutional investors 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.

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