Rapt Therapeutics (NASDAQ:RAPT) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Rapt Therapeutics has received an upgrade from Wall Street Zen, moving from a "sell" to a "hold" rating.
• Wells Fargo has downgraded its price target for Rapt Therapeutics from $51.00 to $38.00, while the average target price overall is set at $21.57.
• The company's recent earnings report showed an EPS of ($0.65), missing estimates, and Rapt Therapeutics has a market capitalization of $213.86 million.

Wall Street Zen upgraded shares of Rapt Therapeutics (NASDAQ:RAPT - Free Report) from a sell rating to a hold rating in a research note released on Friday.

RAPT has been the topic of several other reports. Zacks Research cut shares of Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Lifesci Capital upgraded Rapt Therapeutics to a "strong-buy" rating and set a $31.00 price objective for the company in a report on Tuesday, July 22nd. JPMorgan Chase & Co. upgraded Rapt Therapeutics from an "underweight" rating to a "neutral" rating and set a $14.00 target price on the stock in a research note on Wednesday, July 30th. HC Wainwright lifted their price target on Rapt Therapeutics to $27.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $38.00 price target (down from $51.00) on shares of Rapt Therapeutics in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.57.

Rapt Therapeutics Price Performance

Rapt Therapeutics stock traded up $1.56 during mid-day trading on Friday, hitting $15.70. 114,674 shares of the company's stock traded hands, compared to its average volume of 71,452. The firm has a 50 day simple moving average of $11.11 and a two-hundred day simple moving average of $9.18. Rapt Therapeutics has a fifty-two week low of $5.67 and a fifty-two week high of $26.56. The stock has a market cap of $259.68 million, a price-to-earnings ratio of -1.11 and a beta of -0.10.

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

Institutional Trading of Rapt Therapeutics

A number of institutional investors have recently modified their holdings of RAPT. Nuveen Asset Management LLC grew its holdings in shares of Rapt Therapeutics by 50.5% during the 4th quarter. Nuveen Asset Management LLC now owns 116,925 shares of the company's stock worth $185,000 after purchasing an additional 39,216 shares in the last quarter. Comerica Bank acquired a new stake in shares of Rapt Therapeutics in the 4th quarter valued at $92,000. Orbimed Advisors LLC bought a new position in shares of Rapt Therapeutics in the 4th quarter valued at $20,754,000. RTW Investments LP acquired a new position in shares of Rapt Therapeutics during the 4th quarter worth $18,587,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Rapt Therapeutics during the 4th quarter worth $63,000. 99.09% of the stock is currently owned by institutional investors.

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.