Rapt Therapeutics (NASDAQ:RAPT) Shares Gap Down - Should You Sell?

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $7.84, but opened at $7.35. Rapt Therapeutics shares last traded at $7.62, with a volume of 45,026 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded Rapt Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. HC Wainwright upgraded Rapt Therapeutics to a "strong-buy" rating and set a $48.00 target price on the stock in a report on Thursday, May 22nd. Finally, UBS Group decreased their target price on Rapt Therapeutics from $16.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $24.00.

Rapt Therapeutics Stock Performance

The firm's fifty day simple moving average is $7.43 and its 200 day simple moving average is $8.92. The stock has a market capitalization of $122.73 million, a price-to-earnings ratio of -0.39 and a beta of -0.11.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.64) EPS for the quarter, topping analysts' consensus estimates of ($2.48) by $1.84. Analysts forecast that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Institutional Trading of Rapt Therapeutics

A number of institutional investors have recently made changes to their positions in RAPT. Picton Mahoney Asset Management increased its holdings in Rapt Therapeutics by 994.4% during the fourth quarter. Picton Mahoney Asset Management now owns 16,175 shares of the company's stock worth $26,000 after buying an additional 14,697 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Rapt Therapeutics by 9.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 219,997 shares of the company's stock valued at $348,000 after acquiring an additional 18,558 shares during the period. Simplicity Wealth LLC bought a new position in shares of Rapt Therapeutics during the first quarter worth approximately $25,000. Exchange Traded Concepts LLC increased its holdings in shares of Rapt Therapeutics by 27.7% during the first quarter. Exchange Traded Concepts LLC now owns 113,738 shares of the company's stock worth $139,000 after purchasing an additional 24,662 shares during the period. Finally, Callan Family Office LLC raised its position in shares of Rapt Therapeutics by 53.9% in the first quarter. Callan Family Office LLC now owns 89,327 shares of the company's stock valued at $109,000 after buying an additional 31,287 shares in the last quarter. 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.