RAPT Therapeutics (NASDAQ:RAPT) Price Target Cut to $4.00 by Analysts at Wells Fargo & Company

RAPT Therapeutics (NASDAQ:RAPT) had its target price cut by Wells Fargo & Company from $17.00 to $4.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also weighed in on RAPT. HC Wainwright restated a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday. UBS Group lowered their price objective on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Piper Sandler cut shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $8.00 to $2.00 in a research note on Monday. Finally, JPMorgan Chase & Co. cut shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.38.

RAPT Therapeutics Trading Down 0.6 %

NASDAQ:RAPT opened at $1.74 on Tuesday. The firm has a 50 day moving average of $1.97 and a 200-day moving average of $3.10. RAPT Therapeutics has a 1 year low of $1.31 and a 1 year high of $27.35.

Hedge Funds Weigh In On RAPT Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of RAPT Therapeutics in the 1st quarter valued at about $97,000. XTX Topco Ltd bought a new stake in RAPT Therapeutics in the second quarter valued at approximately $108,000. Hennion & Walsh Asset Management Inc. raised its holdings in RAPT Therapeutics by 8.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock worth $148,000 after purchasing an additional 3,824 shares during the period. EntryPoint Capital LLC bought a new position in shares of RAPT Therapeutics during the first quarter worth $161,000. Finally, Exchange Traded Concepts LLC increased its position in shares of RAPT Therapeutics by 244.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock valued at $179,000 after buying an additional 63,235 shares in the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.

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.