JPMorgan Chase & Co. Trims RAPT Therapeutics (NASDAQ:RAPT) Target Price to $13.00

RAPT Therapeutics (NASDAQ:RAPT) had its price objective decreased by JPMorgan Chase & Co. from $15.00 to $13.00 in a research note released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Evercore ISI initiated coverage on shares of RAPT Therapeutics in a research report on Friday, February 16th. They set an outperform rating for the company. SVB Leerink cut shares of RAPT Therapeutics from an outperform rating to a market perform rating and lowered their price target for the company from $42.00 to $10.00 in a research report on Wednesday, February 21st. Cantor Fitzgerald cut shares of RAPT Therapeutics from an overweight rating to a neutral rating in a research report on Tuesday, February 20th. Barclays lowered their price target on shares of RAPT Therapeutics from $35.00 to $13.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. Finally, Leerink Partnrs cut shares of RAPT Therapeutics from an outperform rating to a market perform rating in a report on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, RAPT Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $25.67.

RAPT Therapeutics Stock Up 0.6 %

Shares of RAPT Therapeutics stock opened at $8.98 on Wednesday. The firm has a market cap of $312.50 million, a PE ratio of -2.95 and a beta of 0.47. RAPT Therapeutics has a 12-month low of $6.86 and a 12-month high of $27.35. The company’s fifty day simple moving average is $15.96 and its two-hundred day simple moving average is $16.80.

RAPT Therapeutics (NASDAQ:RAPT) last announced its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.05. As a group, sell-side analysts expect that RAPT Therapeutics will post -3.21 earnings per share for the current fiscal year.

Institutional Trading of RAPT Therapeutics

A number of large investors have recently made changes to their positions in the stock. Kingdon Capital Management L.L.C. grew its stake in shares of RAPT Therapeutics by 19.9% in the fourth quarter. Kingdon Capital Management L.L.C. now owns 965,828 shares of the company’s stock worth $24,001,000 after acquiring an additional 160,000 shares during the period. Vanguard Group Inc. grew its stake in shares of RAPT Therapeutics by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 2,056,221 shares of the company’s stock worth $51,097,000 after acquiring an additional 32,916 shares during the period. Perceptive Advisors LLC grew its stake in shares of RAPT Therapeutics by 11.4% in the fourth quarter. Perceptive Advisors LLC now owns 2,139,950 shares of the company’s stock worth $53,178,000 after acquiring an additional 219,292 shares during the period. Barclays PLC grew its stake in shares of RAPT Therapeutics by 46.3% in the fourth quarter. Barclays PLC now owns 78,473 shares of the company’s stock worth $1,949,000 after acquiring an additional 24,822 shares during the period. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in shares of RAPT Therapeutics in the fourth quarter worth approximately $4,225,000. 99.09% of the stock is currently owned by institutional investors.

About RAPT Therapeutics

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.