JPMorgan Chase & Co. Trims RAPT Therapeutics (NASDAQ:RAPT) Target Price to $13.00

RAPT Therapeutics (NASDAQ:RAPT) had its price objective reduced by JPMorgan Chase & Co. from $15.00 to $13.00 in a research note published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms have also recently weighed in on RAPT. Cantor Fitzgerald cut shares of RAPT Therapeutics from an overweight rating to a neutral rating in a research note on Tuesday, February 20th. UBS Group cut shares of RAPT Therapeutics from a buy rating to a neutral rating and decreased their target price for the stock from $61.00 to $10.00 in a research note on Thursday, February 22nd. HC Wainwright cut shares of RAPT Therapeutics from a buy rating to a neutral rating in a research note on Wednesday, February 21st. SVB Leerink cut shares of RAPT Therapeutics from an outperform rating to a market perform rating and decreased their target price for the stock from $42.00 to $10.00 in a research note on Wednesday, February 21st. Finally, Leerink Partnrs cut shares of RAPT Therapeutics from an outperform rating to a market perform rating in a research note on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $25.67.

RAPT Therapeutics Price Performance

Shares of NASDAQ:RAPT opened at $8.98 on Wednesday. The company’s 50 day simple moving average is $15.96 and its 200 day simple moving average is $16.80. The stock has a market capitalization of $312.50 million, a price-to-earnings ratio of -2.95 and a beta of 0.47. RAPT Therapeutics has a 1 year low of $6.86 and a 1 year high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.05. As a group, analysts anticipate that RAPT Therapeutics will post -3.21 EPS for the current fiscal year.

Institutional Trading of RAPT Therapeutics

Several institutional investors have recently modified their holdings of RAPT. Tower Research Capital LLC TRC lifted its holdings in RAPT Therapeutics by 46.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,994 shares of the company’s stock valued at $56,000 after buying an additional 953 shares during the period. Royal Bank of Canada lifted its holdings in RAPT Therapeutics by 87.8% in the second quarter. Royal Bank of Canada now owns 3,164 shares of the company’s stock valued at $59,000 after buying an additional 1,479 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in RAPT Therapeutics by 347.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,981 shares of the company’s stock valued at $99,000 after buying an additional 3,092 shares during the period. Quantbot Technologies LP acquired a new position in RAPT Therapeutics in the second quarter valued at $107,000. Finally, Fred Alger Management LLC acquired a new position in RAPT Therapeutics in the fourth quarter valued at $122,000. Institutional investors 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.