Rapt Therapeutics (NASDAQ:RAPT) Upgraded by JPMorgan Chase & Co. to Neutral Rating

Key Points

• Rapt Therapeutics has been upgraded by JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating, with a target price of $14.00, suggesting a potential upside of 21.42% from its current price.
• Other analysts have varied recommendations, with Lifesci Capital giving a "strong-buy" rating and a target of $31.00, while UBS Group lowered their target from $16.00 to $8.00, maintaining a "neutral" rating.
• Rapt Therapeutics focuses on developing therapies for unmet needs in oncology and inflammatory diseases, with a market capitalization of $190.71 million and a recent earnings report exceeding analyst expectations.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a $14.00 price target on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 33.46% from the stock's current price.

RAPT has been the topic of several other reports. HC Wainwright raised their price objective on Rapt Therapeutics to $27.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Lifesci Capital upgraded shares of Rapt Therapeutics to a "strong-buy" rating and set a $31.00 target price on the stock in a research note on Tuesday, July 22nd. UBS Group cut their target price on shares of Rapt Therapeutics from $16.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded Rapt Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.57.

Rapt Therapeutics Price Performance

Shares of RAPT stock traded down $0.31 during midday trading on Wednesday, reaching $10.49. 31,794 shares of the company traded hands, compared to its average volume of 100,083. The firm's 50 day simple moving average is $9.23 and its two-hundred day simple moving average is $8.77. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $26.56.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($2.48) by $1.84. As a group, equities analysts expect that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Simplicity Wealth LLC bought a new position in Rapt Therapeutics during the 1st quarter worth approximately $25,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Rapt Therapeutics in the fourth quarter valued at approximately $63,000. Sei Investments Co. bought a new position in Rapt Therapeutics in the fourth quarter valued at approximately $64,000. Invesco Ltd. lifted its stake in Rapt Therapeutics by 411.7% in the first quarter. Invesco Ltd. now owns 58,901 shares of the company's stock valued at $72,000 after buying an additional 47,391 shares in the last quarter. Finally, Shay Capital LLC bought a new position in Rapt Therapeutics in the fourth quarter valued at approximately $81,000. Institutional investors and hedge funds 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.