Rapt Therapeutics (NASDAQ:RAPT) Given Consensus Rating of “Moderate Buy” by Analysts

Rapt Therapeutics (NASDAQ:RAPT) has been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $55.4444.

Several analysts recently commented on the company. Piper Sandler started coverage on Rapt Therapeutics in a report on Friday, January 9th. They issued an “overweight” rating and a $95.00 price objective for the company. Guggenheim began coverage on Rapt Therapeutics in a research report on Monday, October 27th. They issued a “buy” rating and a $70.00 target price on the stock. Leerink Partnrs upgraded Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Leerink Partners upgraded shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $16.00 to $37.00 in a research note on Friday, September 26th. Finally, TD Cowen started coverage on shares of Rapt Therapeutics in a report on Thursday, December 18th. They issued a “buy” rating on the stock.

Institutional Investors Weigh In On Rapt Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of RAPT. Invesco Ltd. raised its holdings in Rapt Therapeutics by 411.7% in the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after purchasing an additional 47,391 shares during the period. AQR Capital Management LLC purchased a new stake in Rapt Therapeutics in the first quarter worth about $188,000. Dimensional Fund Advisors LP bought a new position in shares of Rapt Therapeutics in the third quarter worth about $231,000. Bridgeway Capital Management LLC lifted its position in shares of Rapt Therapeutics by 32.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after buying an additional 5,000 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Rapt Therapeutics by 680.3% during the 3rd quarter. UBS Group AG now owns 28,808 shares of the company’s stock valued at $743,000 after acquiring an additional 25,116 shares during the period. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

Rapt Therapeutics Stock Up 9.0%

RAPT opened at $35.10 on Wednesday. The stock has a market capitalization of $972.62 million, a price-to-earnings ratio of -3.17 and a beta of 0.45. The firm has a 50 day moving average price of $32.63 and a 200-day moving average price of $23.18. Rapt Therapeutics has a twelve month low of $5.67 and a twelve month high of $42.39.

Rapt Therapeutics (NASDAQ:RAPT) last posted its earnings results on Thursday, November 6th. The company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.23. As a group, analysts expect that Rapt Therapeutics will post -2.14 earnings per share for the current year.

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.