Wall Street Zen Upgrades Rapt Therapeutics (NASDAQ:RAPT) to Hold

Key Points

• The stock of Rapt Therapeutics was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, with other analysts also adjusting their ratings and target prices accordingly.
• Rapt Therapeutics reported a quarterly loss of ($0.65) earnings per share, missing analysts' expectations of ($0.61) by ($0.04).
• Institutional investors hold 99.09% of Rapt Therapeutics' stock, with significant increases in positions from hedge funds like ADAR1 Capital Management and Nantahala Capital Management.

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

A number of other research analysts also recently issued reports on RAPT. Zacks Research downgraded shares of Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. upgraded shares of Rapt Therapeutics from an "underweight" rating to a "neutral" rating and set a $14.00 price objective for the company in a research report on Wednesday, July 30th. UBS Group set a $9.00 price objective on shares of Rapt Therapeutics and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. Wells Fargo & Company restated an "overweight" rating and set a $38.00 price objective (down previously from $51.00) on shares of Rapt Therapeutics in a research report on Friday, August 8th. Finally, HC Wainwright boosted their price objective on shares of Rapt Therapeutics to $27.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.57.

Rapt Therapeutics Stock Up 13.9%

Rapt Therapeutics stock traded up $2.50 during trading on Friday, reaching $20.50. The stock had a trading volume of 340,003 shares, compared to its average volume of 89,805. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $26.56. The business has a 50 day moving average price of $12.08 and a 200 day moving average price of $9.49. The stock has a market cap of $339.07 million, a PE ratio of -1.45 and a beta of -0.10.

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

Hedge Funds Weigh In On Rapt Therapeutics

A number of institutional investors have recently modified their holdings of RAPT. Comerica Bank acquired a new position in shares of Rapt Therapeutics in the 4th quarter valued at $92,000. Nuveen Asset Management LLC increased its stake in Rapt Therapeutics by 50.5% in the 4th quarter. Nuveen Asset Management LLC now owns 116,925 shares of the company's stock valued at $185,000 after buying an additional 39,216 shares during the period. Shay Capital LLC purchased a new position in Rapt Therapeutics during the 4th quarter worth $81,000. Trustees of Columbia University in the City of New York acquired a new stake in shares of Rapt Therapeutics in the 4th quarter worth $116,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Rapt Therapeutics in the 1st quarter worth $25,000. 99.09% of the stock is owned by institutional investors and hedge funds.

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.