Rapt Therapeutics (NASDAQ:RAPT) Receives Average Recommendation of "Moderate Buy" from Analysts

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 been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $21.5714.

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

Rapt Therapeutics Price Performance

Shares of RAPT stock opened at $14.14 on Thursday. The stock's 50-day moving average is $10.96 and its 200 day moving average is $9.14. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $26.56. The company has a market cap of $233.88 million, a P/E ratio of -1.00 and a beta of -0.10.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last released its quarterly 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, analysts anticipate that Rapt Therapeutics will post -2.14 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RAPT. RTW Investments LP purchased a new stake in shares of Rapt Therapeutics during the fourth quarter valued at $18,587,000. Redmile Group LLC grew its stake in Rapt Therapeutics by 1,183.4% during the 4th quarter. Redmile Group LLC now owns 6,475,317 shares of the company's stock valued at $10,231,000 after purchasing an additional 5,970,785 shares during the last quarter. ADAR1 Capital Management LLC increased its holdings in shares of Rapt Therapeutics by 408.4% in the first 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 raised its stake in shares of Rapt Therapeutics by 303.1% in the first quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company's stock worth $6,116,000 after purchasing an additional 3,769,414 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Rapt Therapeutics during the first quarter worth about $188,000. 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.

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