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 research note published on Saturday morning.

RAPT has been the subject of a number of other reports. 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. HC Wainwright increased their price target on Rapt Therapeutics to $27.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Wells Fargo & Company reissued an "overweight" rating and set a $38.00 price target (down from $51.00) on shares of Rapt Therapeutics in a research note on Friday, August 8th. Zacks Research lowered Rapt Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, JPMorgan Chase & Co. raised Rapt Therapeutics from an "underweight" rating to a "neutral" rating and set a $14.00 price objective for the company in a research note on Wednesday, July 30th. One investment 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.com, Rapt Therapeutics has an average rating of "Moderate Buy" and an average target price of $21.57.

Rapt Therapeutics Price Performance

Shares of NASDAQ RAPT traded up $1.20 during mid-day trading on Friday, reaching $17.42. The company's stock had a trading volume of 132,613 shares, compared to its average volume of 82,743. The firm has a market capitalization of $288.13 million, a PE ratio of -1.23 and a beta of -0.10. The stock has a fifty day moving average of $11.28 and a two-hundred day moving average of $9.23. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $26.56.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last released its quarterly earnings data 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). Analysts anticipate that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Checkpoint Capital L.P. purchased a new position in shares of Rapt Therapeutics in the 1st quarter valued at $134,000. AQR Capital Management LLC purchased a new position in shares of Rapt Therapeutics in the 1st quarter valued at $188,000. ADAR1 Capital Management LLC increased its holdings in shares of Rapt Therapeutics by 408.4% in the 1st 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 period. Nantahala Capital Management LLC increased its holdings in shares of Rapt Therapeutics by 303.1% in the 1st 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 period. Finally, Comerica Bank increased its holdings in shares of Rapt Therapeutics by 53.9% in the 1st quarter. Comerica Bank now owns 89,327 shares of the company's stock valued at $109,000 after acquiring an additional 31,287 shares during the period. 99.09% of the stock is currently owned by hedge funds and other 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.