Rapt Therapeutics (NASDAQ:RAPT) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Rapt Therapeutics has received a consensus rating of "Moderate Buy" from analysts, with four hold ratings, two buy ratings, and one strong buy rating.
• Several research firms have different price targets for Rapt's stock, with UBS Group setting a target of $9.00 and Wells Fargo issuing a revised target of $38.00, down from $51.00.
• The company's stock price opened at $11.74, and its 12-month target price averages around $21.57 according to brokerages.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven research firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $21.5714.

Several equities research analysts have recently commented on the company. Lifesci Capital upgraded Rapt Therapeutics to a "strong-buy" rating and set a $31.00 price objective for the company in a research note on Tuesday, July 22nd. Wells Fargo & Company reiterated an "overweight" rating and issued a $38.00 price target (down previously from $51.00) on shares of Rapt Therapeutics in a research note on Friday, August 8th. HC Wainwright increased their price target on Rapt Therapeutics to $27.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. 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. Finally, Wall Street Zen lowered Rapt Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

Rapt Therapeutics Stock Performance

Shares of NASDAQ RAPT traded up $0.40 during midday trading on Friday, hitting $10.72. 45,873 shares of the stock traded hands, compared to its average volume of 106,220. The firm has a 50-day moving average of $9.85 and a two-hundred day moving average of $8.89. The firm has a market capitalization of $177.31 million, a P/E ratio of -0.76 and a beta of 0.01. Rapt Therapeutics has a one year low of $5.67 and a one year high of $26.56.

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

Institutional Investors Weigh In On Rapt Therapeutics

Institutional investors have recently bought and sold shares of the business. Simplicity Wealth LLC purchased a new position in shares of Rapt Therapeutics during the first quarter valued at about $25,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Rapt Therapeutics during the fourth quarter valued at about $63,000. Shay Capital LLC purchased a new position in shares of Rapt Therapeutics during the fourth quarter valued at about $81,000. Comerica Bank purchased a new position in shares of Rapt Therapeutics during the fourth quarter valued at about $92,000. Finally, Invesco Ltd. grew its position in shares of 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. 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.