Rapt Therapeutics (NASDAQ:RAPT) Receives $21.57 Consensus PT from Brokerages

Key Points

• Rapt Therapeutics has received a consensus recommendation of "Moderate Buy" from eight brokerages, with an average one-year target price of $21.57.
• Institutional investors and hedge funds hold 99.09% of Rapt Therapeutics' stock, with significant investments from firms like RTW Investments and Redmile Group, which have greatly increased their stakes.
• The company's recent earnings report showed a loss of ($0.65) EPS, missing analyst expectations, while analysts project a -2.14 EPS for the current year.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.5714.

A number of analysts recently commented on RAPT shares. HC Wainwright increased their price target on Rapt Therapeutics to $27.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company restated an "overweight" rating and issued a $38.00 price objective (down previously from $51.00) on shares of Rapt Therapeutics in a research note on Friday, August 8th. Lifesci Capital raised Rapt Therapeutics to a "strong-buy" rating and set a $31.00 target price for the company in a research report on Tuesday, July 22nd. Zacks Research cut Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, JPMorgan Chase & Co. raised shares of Rapt Therapeutics from an "underweight" rating to a "neutral" rating and set a $14.00 price target on the stock in a report on Wednesday, July 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RAPT. RTW Investments LP purchased a new position in Rapt Therapeutics during the 4th quarter valued at about $18,587,000. Redmile Group LLC boosted its position in shares of Rapt Therapeutics by 1,183.4% in the fourth quarter. Redmile Group LLC now owns 6,475,317 shares of the company's stock valued at $10,231,000 after acquiring an additional 5,970,785 shares during the period. ADAR1 Capital Management LLC grew its stake in Rapt Therapeutics by 408.4% during the first quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company's stock valued at $7,284,000 after acquiring an additional 4,796,455 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in Rapt Therapeutics by 303.1% during the 1st quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company's stock worth $6,116,000 after acquiring an additional 3,769,414 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in Rapt Therapeutics in the 1st quarter worth approximately $188,000. 99.09% of the stock is owned by institutional investors.

Rapt Therapeutics Stock Up 1.2%

Rapt Therapeutics stock traded up $0.21 during midday trading on Thursday, hitting $17.63. 144,394 shares of the stock were exchanged, compared to its average volume of 82,396. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $26.56. The business's 50-day moving average price is $11.65 and its 200-day moving average price is $9.35. The stock has a market capitalization of $291.60 million, a price-to-earnings ratio of -1.24 and a beta of -0.10.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts predict that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

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.