RAPT Therapeutics (NASDAQ:RAPT) Shares Scheduled to Reverse Split on Tuesday, June 17th

RAPT Therapeutics, Inc. (NASDAQ:RAPT - Free Report)'s stock is going to reverse split on the morning of Tuesday, June 17th. The 1-8 reverse split was announced on Friday, June 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 16th.

RAPT Therapeutics Price Performance

RAPT traded down $0.05 on Friday, hitting $1.04. The company had a trading volume of 617,864 shares, compared to its average volume of 1,280,765. The stock has a fifty day simple moving average of $0.92 and a 200-day simple moving average of $1.12. The firm has a market capitalization of $137.58 million, a P/E ratio of -0.38 and a beta of -0.11. RAPT Therapeutics has a 52-week low of $0.71 and a 52-week high of $3.83.

RAPT Therapeutics (NASDAQ:RAPT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.23. Equities research analysts expect that RAPT Therapeutics will post -2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RAPT has been the subject of several recent research reports. Wall Street Zen raised RAPT Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. HC Wainwright raised shares of RAPT Therapeutics to a "strong-buy" rating and set a $6.00 price target for the company in a research report on Thursday, May 22nd. Finally, UBS Group dropped their price objective on shares of RAPT Therapeutics from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, RAPT Therapeutics has a consensus rating of "Hold" and an average target price of $3.00.

Institutional Investors Weigh In On RAPT Therapeutics

Several hedge funds have recently added to or reduced their stakes in RAPT. Picton Mahoney Asset Management raised its position 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 worth $26,000 after purchasing an additional 14,697 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in RAPT Therapeutics during the 1st quarter valued at about $25,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in RAPT Therapeutics during the 4th quarter valued at about $63,000. Sei Investments Co. purchased a new position in RAPT Therapeutics in the fourth quarter worth about $64,000. Finally, Shay Capital LLC purchased a new position in RAPT Therapeutics in the fourth quarter worth about $81,000. 99.09% of the stock is owned by institutional investors.

About RAPT Therapeutics

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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