Rapt Therapeutics (NASDAQ:RAPT) Stock Rating Upgraded by Leerink Partnrs

Key Points

• Rapt Therapeutics was upgraded by Leerink Partners from a "hold" to a "strong-buy" rating, reflecting increased confidence in the company's stock.
• Multiple research analysts have also issued positive ratings, with Lifesci Capital setting a price target of $31.00 and others giving varying price targets between $9.00 to $27.00.
• The company's stock has seen significant institutional interest, with over 99% of its shares owned by institutional investors, highlighting strong market confidence.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) was upgraded by equities researchers at Leerink Partnrs from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other research analysts also recently commented on RAPT. Lifesci Capital raised Rapt Therapeutics to a "strong-buy" rating and set a $31.00 price target for the company in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised 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. UBS Group set a $9.00 price target on Rapt Therapeutics and gave the company a "neutral" rating in a research note on Tuesday, August 12th. HC Wainwright boosted their price target on Rapt Therapeutics to $27.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Rapt Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.50.

Rapt Therapeutics Stock Performance

RAPT opened at $26.38 on Thursday. Rapt Therapeutics has a fifty-two week low of $5.67 and a fifty-two week high of $27.00. The company has a market capitalization of $436.33 million, a P/E ratio of -1.86 and a beta of -0.10. The stock has a fifty day moving average of $13.59 and a 200-day moving average of $10.06.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). On average, equities research analysts predict that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ADAR1 Capital Management LLC grew its position in 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 acquiring an additional 4,796,455 shares during the last quarter. Nantahala Capital Management LLC grew its position in Rapt Therapeutics by 303.1% in the first quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company's stock valued at $6,116,000 after acquiring an additional 3,769,414 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Rapt Therapeutics during the first quarter worth about $188,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Rapt Therapeutics by 112.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company's stock worth $184,000 after purchasing an additional 79,967 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Rapt Therapeutics during the first quarter worth about $143,000. 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.

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