Rapt Therapeutics (NASDAQ:RAPT) Trading Up 9.8% – Still a Buy?

Rapt Therapeutics (NASDAQ:RAPT)’s share price shot up 9.8% on Monday . The stock traded as high as $37.37 and last traded at $37.1240. 81,871 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 218,150 shares. The stock had previously closed at $33.81.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RAPT shares. TD Cowen began coverage on shares of Rapt Therapeutics in a research report on Thursday, December 18th. They set a “buy” rating on the stock. JPMorgan Chase & Co. increased their price target on Rapt Therapeutics from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Wall Street Zen upgraded Rapt Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Barclays cut their target price on Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Finally, Leerink Partnrs raised Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rapt Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Rapt Therapeutics Trading Up 1.1%

The company has a market cap of $991.46 million, a P/E ratio of -3.24 and a beta of 0.43. The company has a 50 day moving average price of $31.27 and a 200-day moving average price of $19.99.

Rapt Therapeutics (NASDAQ:RAPT) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.23. Equities analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current year.

Institutional Trading of Rapt Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP acquired a new position in shares of Rapt Therapeutics during the third quarter worth $231,000. Bridgeway Capital Management LLC grew its position in Rapt Therapeutics by 32.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock worth $532,000 after acquiring an additional 5,000 shares during the last quarter. UBS Group AG grew its position in Rapt Therapeutics by 680.3% during the 3rd quarter. UBS Group AG now owns 28,808 shares of the company’s stock worth $743,000 after acquiring an additional 25,116 shares during the last quarter. Millennium Management LLC increased its holdings in Rapt Therapeutics by 75.2% in the 3rd quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock worth $1,013,000 after purchasing an additional 16,854 shares in the last quarter. Finally, Susquehanna International Group LLP raised its position in Rapt Therapeutics by 173.4% in the third quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock valued at $1,170,000 after purchasing an additional 28,782 shares during the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.

About Rapt Therapeutics

RAPT Therapeutics, Inc (NASDAQ:RAPT) is a clinical-stage biotechnology company developing novel therapeutics for autoimmune and allergic diseases. Founded in 2013 and headquartered in San Diego, California, RAPT applies tissue-selective immunology to design small molecule and biologic candidates that modulate immune cell trafficking and tissue-resident pathways. The company’s research platform enables the identification of targets that drive tissue inflammation with the goal of achieving improved efficacy and safety profiles over current therapies.

The company’s lead asset, RPT193, is an orally available antagonist of the CC chemokine receptor 4 (CCR4), currently in clinical development for atopic dermatitis and allergic asthma.