Guggenheim Lowers RAPT Therapeutics (NASDAQ:RAPT) to Neutral

RAPT Therapeutics (NASDAQ:RAPT) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Briefing.com reports.

A number of other equities research analysts have also recently issued reports on RAPT. HC Wainwright reaffirmed a “neutral” rating on shares of RAPT Therapeutics in a report on Wednesday, April 10th. UBS Group cut RAPT Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $61.00 to $10.00 in a research report on Thursday, February 22nd. SVB Leerink downgraded RAPT Therapeutics from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $42.00 to $10.00 in a research note on Wednesday, February 21st. Wolfe Research initiated coverage on RAPT Therapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $39.00 price target on the stock. Finally, Barclays cut shares of RAPT Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $13.00 to $4.00 in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, RAPT Therapeutics currently has a consensus rating of “Hold” and an average price target of $24.67.

RAPT Therapeutics Stock Performance

Shares of NASDAQ RAPT opened at $4.66 on Friday. The stock has a 50 day moving average price of $8.40 and a 200 day moving average price of $15.26. The stock has a market capitalization of $162.17 million, a PE ratio of -1.53 and a beta of 0.52. RAPT Therapeutics has a 52 week low of $4.39 and a 52 week high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last released its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.05. As a group, research analysts forecast that RAPT Therapeutics will post -3.19 EPS for the current year.

Hedge Funds Weigh In On RAPT Therapeutics

Hedge funds have recently bought and sold shares of the business. TD Asset Management Inc grew its position in shares of RAPT Therapeutics by 67.4% during the 3rd quarter. TD Asset Management Inc now owns 153,618 shares of the company’s stock worth $2,553,000 after purchasing an additional 61,831 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in RAPT Therapeutics by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 40,565 shares of the company’s stock worth $674,000 after buying an additional 19,161 shares in the last quarter. Swiss National Bank increased its stake in RAPT Therapeutics by 9.6% during the 3rd quarter. Swiss National Bank now owns 49,100 shares of the company’s stock worth $816,000 after acquiring an additional 4,300 shares during the period. FMR LLC increased its stake in RAPT Therapeutics by 7.4% during the 3rd quarter. FMR LLC now owns 4,499,293 shares of the company’s stock worth $74,778,000 after acquiring an additional 308,804 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its holdings in RAPT Therapeutics by 75.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 135,045 shares of the company’s stock valued at $2,244,000 after acquiring an additional 58,049 shares in the last quarter. 99.09% of the stock is owned by institutional investors.

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.