Rapt Therapeutics (NASDAQ:RAPT) Shares Gap Down - What's Next?

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report)'s stock price gapped down prior to trading 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 traded.

Analysts Set New Price Targets

Several brokerages have issued reports on RAPT. Wall Street Zen lowered Rapt Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday. UBS Group lowered their target price on shares of Rapt Therapeutics from $16.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, HC Wainwright upgraded shares of Rapt Therapeutics to a "strong-buy" rating and set a $48.00 target price for the company in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Rapt Therapeutics has a consensus rating of "Hold" and a consensus price target of $24.00.

Rapt Therapeutics Trading Up 0.1%

The firm has a 50-day simple moving average of $7.46 and a two-hundred day simple moving average of $8.89. The company has a market capitalization of $122.89 million, a price-to-earnings ratio of -0.39 and a beta of -0.11.

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

Hedge Funds Weigh In On Rapt Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RAPT. Los Angeles Capital Management LLC boosted its position in shares of Rapt Therapeutics by 9.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 219,997 shares of the company's stock worth $348,000 after buying an additional 18,558 shares during the period. Callan Family Office LLC purchased a new position in Rapt Therapeutics during the 4th quarter worth $92,000. Picton Mahoney Asset Management lifted its holdings in shares of Rapt Therapeutics by 994.4% in the 4th quarter. Picton Mahoney Asset Management now owns 16,175 shares of the company's stock valued at $26,000 after buying an additional 14,697 shares during the period. Sei Investments Co. purchased a new stake in shares of Rapt Therapeutics during the 4th quarter worth $64,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Rapt Therapeutics by 1,128.3% in the 4th quarter. JPMorgan Chase & Co. now owns 205,164 shares of the company's stock valued at $324,000 after purchasing an additional 188,461 shares in the last quarter. 99.09% of the stock is currently owned by institutional investors and hedge funds.

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.