Rapt Therapeutics (NASDAQ:RAPT) Now Covered by Barclays

Key Points

• Barclays has initiated coverage of Rapt Therapeutics (NASDAQ:RAPT) with an "overweight" rating and a price target of $35.00, indicating a potential upside of 32.83% from its current stock price.
• The stock has a current consensus rating of Moderate Buy among analysts, with a price target averaging $24.78, despite a mixed set of ratings from various investment firms.
• Rapt Therapeutics is a clinical-stage biopharmaceutical company focusing on oral small molecule therapies for oncology and inflammatory diseases, with its lead drug candidate being zelnecirnon (RPT193).

Barclays started coverage on shares of Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) in a report released on Monday, MarketBeat reports. The firm set an "overweight" rating and a $35.00 price target on the stock. Barclays's price objective would suggest a potential upside of 32.83% from the company's current price.

Several other equities analysts have also recently commented on the stock. Lifesci Capital raised shares of Rapt Therapeutics to a "strong-buy" rating and set a $31.00 target price on the stock in a research note on Tuesday, July 22nd. HC Wainwright lifted their price objective on shares of Rapt Therapeutics to $27.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapt Therapeutics in a research note on Wednesday, October 8th. Zacks Research cut shares of Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. 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. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.78.

Rapt Therapeutics Trading Down 1.6%

Rapt Therapeutics stock opened at $26.35 on Monday. The stock has a market cap of $435.83 million, a price-to-earnings ratio of -1.86 and a beta of 0.23. The company's 50-day moving average price is $17.17 and its two-hundred day moving average price is $11.44. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $32.35.

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). Research analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RAPT. Invesco Ltd. grew its position 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 purchasing an additional 47,391 shares in the last quarter. Comerica Bank grew its position in Rapt Therapeutics by 53.9% during the first quarter. Comerica Bank now owns 89,327 shares of the company's stock valued at $109,000 after purchasing an additional 31,287 shares in the last quarter. Callan Family Office LLC grew its position in Rapt Therapeutics by 53.9% during the first quarter. Callan Family Office LLC now owns 89,327 shares of the company's stock valued at $109,000 after purchasing an additional 31,287 shares in the last quarter. Checkpoint Capital L.P. purchased a new position in Rapt Therapeutics during the first quarter valued at approximately $134,000. Finally, Exchange Traded Concepts LLC grew its position in Rapt Therapeutics by 27.7% during the first quarter. Exchange Traded Concepts LLC now owns 113,738 shares of the company's stock valued at $139,000 after purchasing an additional 24,662 shares in the last quarter. 99.09% of the stock is 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.