Rapt Therapeutics (NASDAQ:RAPT) Sets New 52-Week High – What’s Next?

Shares of Rapt Therapeutics (NASDAQ:RAPT) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $57.86 and last traded at $57.78, with a volume of 6026119 shares trading hands. The stock had previously closed at $57.75.

Analysts Set New Price Targets

Several brokerages have issued reports on RAPT. Wells Fargo & Company downgraded shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective for the company. in a research report on Tuesday, January 20th. JPMorgan Chase & Co. upped their target price on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Thursday, January 22nd. TD Cowen lowered shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Piper Sandler downgraded Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 target price for the company. in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.44.

Rapt Therapeutics Price Performance

The stock’s fifty day simple moving average is $40.61 and its two-hundred day simple moving average is $27.87. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -5.22 and a beta of 0.47.

Rapt Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.23. On average, sell-side analysts predict that Rapt Therapeutics will post -2.14 EPS for the current year.

Hedge Funds Weigh In On Rapt Therapeutics

Several large investors have recently bought and sold shares of the stock. Boone Capital Management LLC bought a new stake in shares of Rapt Therapeutics in the 3rd quarter worth $20,180,000. AQR Capital Management LLC acquired a new position in Rapt Therapeutics during the first quarter worth about $188,000. Invesco Ltd. bought a new stake in Rapt Therapeutics in the third quarter worth about $3,625,000. SummitTX Capital L.P. acquired a new stake in Rapt Therapeutics in the 3rd quarter valued at about $2,370,000. Finally, Velan Capital Investment Management LP bought a new position in shares of Rapt Therapeutics during the 3rd quarter valued at about $2,063,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

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.