Analysts Set Rapt Therapeutics (NASDAQ:RAPT) Target Price at $48.44

Shares of Rapt Therapeutics (NASDAQ:RAPT) have received a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $48.4444.

A number of research analysts have commented on the company. Clear Str lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Lifesci Capital lowered Rapt Therapeutics from an “outperform” rating to a “hold” rating in a research report on Tuesday, January 20th. Wall Street Zen raised Rapt Therapeutics to a “hold” rating in a research note on Saturday, March 7th. TD Cowen downgraded Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Piper Sandler lowered Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target for the company. in a research note on Tuesday, January 20th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in shares of 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 position in shares of Rapt Therapeutics during the first quarter valued at about $188,000. Dimensional Fund Advisors LP purchased a new position in shares of Rapt Therapeutics during the third quarter valued at about $231,000. UBS Group AG raised its stake in Rapt Therapeutics by 680.3% in the third quarter. UBS Group AG now owns 28,808 shares of the company’s stock worth $743,000 after buying an additional 25,116 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Rapt Therapeutics by 32.0% in the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock worth $532,000 after buying an additional 5,000 shares in the last quarter. 99.09% of the stock is currently owned by institutional investors.

Rapt Therapeutics Stock Performance

Shares of NASDAQ:RAPT opened at $58.02 on Monday. The company has a 50-day moving average price of $57.88 and a 200-day moving average price of $40.26. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -5.25 and a beta of 0.49. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $58.02.

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.