Rapt Therapeutics (NASDAQ:RAPT) Receives Market Perform Rating from Lifesci Capital

Rapt Therapeutics (NASDAQ:RAPT)‘s stock had its “market perform” rating reiterated by investment analysts at Lifesci Capital in a report issued on Tuesday,Benzinga reports.

A number of other equities research analysts also recently issued reports on the stock. Cowen downgraded shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Guggenheim cut shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. Wells Fargo & Company reiterated an “equal weight” rating and issued a $58.00 target price on shares of Rapt Therapeutics in a research report on Tuesday. Leerink Partners upgraded shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $16.00 to $37.00 in a report on Friday, September 26th. Finally, Barclays reduced their target price on Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.22.

Rapt Therapeutics Stock Up 63.9%

Shares of RAPT stock traded up $22.45 during trading on Tuesday, reaching $57.55. 29,611,541 shares of the company’s stock were exchanged, compared to its average volume of 2,691,506. The stock has a market capitalization of $1.59 billion, a PE ratio of -5.20 and a beta of 0.45. Rapt Therapeutics has a twelve month low of $5.67 and a twelve month high of $57.61. The firm’s fifty day moving average price is $32.75 and its 200-day moving average price is $23.37.

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

Institutional Trading of Rapt Therapeutics

Hedge funds have recently modified their holdings of the stock. Velan Capital Investment Management LP purchased a new position in shares of Rapt Therapeutics during the third quarter valued at approximately $2,063,000. Susquehanna International Group LLP boosted its holdings in Rapt Therapeutics by 173.4% during the 3rd quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock worth $1,170,000 after acquiring an additional 28,782 shares during the last quarter. Millennium Management LLC boosted its holdings in Rapt Therapeutics by 75.2% during the 3rd quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock worth $1,013,000 after acquiring an additional 16,854 shares during the last quarter. Boone Capital Management LLC purchased a new position in Rapt Therapeutics during the third quarter worth about $20,180,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Rapt Therapeutics during the 3rd quarter worth approximately $1,326,000. Institutional investors own 99.09% of the company’s stock.

Rapt Therapeutics News Roundup

Here are the key news stories impacting Rapt Therapeutics this week:

• Positive Sentiment: GSK agreed to buy RAPT for ~$2.2 billion (~$58.00 per share), giving RAPT shareholders a near?term cash exit and driving the stock rally. GSK to buy RAPT Therapeutics for $2.2 billion
• Positive Sentiment: Deal rationale: GSK gains access to RAPT’s late?stage food?allergy treatment, supporting strategic value and justifying the takeover premium. RAPT Therapeutics shares surge 64% as GSK agrees $2.2B acquisition
• Neutral Sentiment: TD Cowen reaffirmed a “hold” on RAPT — a muted analyst reaction that neither amplifies nor contradicts the deal’s valuation for shareholders. Benzinga
• Neutral Sentiment: HC Wainwright downgraded RAPT from “buy” to “neutral” with a $58 price target — effectively pricing the stock at the announced deal level and implying little or no incremental upside beyond the offer. RAPT just downgraded at HC Wainwright
• Negative Sentiment: Two investor?rights firms (Ademi LLP and Halper Sadeh LLC) launched investigations into whether the $58 per?share sale is fair to RAPT shareholders — potential legal challenges or shareholder litigation could delay closing or pressure deal terms. Ademi investigates fairness of RAPT transaction Halper Sadeh investigates fairness of RAPT sale

Rapt Therapeutics Company Profile

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.