RAPT Therapeutics (NASDAQ:RAPT) Raised to “Buy” at HC Wainwright

RAPT Therapeutics (NASDAQ:RAPT) was upgraded by stock analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat reports. The brokerage currently has a $10.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 491.72% from the company’s previous close.

Several other analysts also recently commented on RAPT. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $8.00 to $2.00 in a research note on Monday, November 11th. Stifel Nicolaus reiterated a “hold” rating and set a $2.00 price target (down previously from $7.00) on shares of RAPT Therapeutics in a report on Wednesday, November 13th. UBS Group decreased their price objective on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Wells Fargo & Company lowered their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lowered RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.56.

RAPT Therapeutics Stock Down 6.6 %

RAPT Therapeutics stock opened at $1.69 on Thursday. RAPT Therapeutics has a twelve month low of $0.79 and a twelve month high of $27.35. The company has a market capitalization of $59.08 million, a P/E ratio of -0.61 and a beta of 0.07. The stock’s 50 day moving average is $1.50 and its 200 day moving average is $2.17.

RAPT Therapeutics (NASDAQ:RAPT) last released its earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.09. As a group, equities analysts expect that RAPT Therapeutics will post -2.86 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in RAPT Therapeutics by 298.2% during the third quarter. JPMorgan Chase & Co. now owns 16,703 shares of the company’s stock valued at $34,000 after buying an additional 25,130 shares during the last quarter. Readystate Asset Management LP bought a new stake in shares of RAPT Therapeutics during the 3rd quarter valued at $36,000. Barclays PLC increased its stake in shares of RAPT Therapeutics by 277.2% in the 3rd quarter. Barclays PLC now owns 39,729 shares of the company’s stock worth $79,000 after purchasing an additional 29,195 shares in the last quarter. XTX Topco Ltd bought a new position in RAPT Therapeutics in the 2nd quarter worth $108,000. Finally, Exchange Traded Concepts LLC lifted its position in RAPT Therapeutics by 244.7% during the third quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock valued at $179,000 after purchasing an additional 63,235 shares in the last quarter. Institutional investors 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.