Analysts Set Rapt Therapeutics (NASDAQ:RAPT) Target Price at $55.44

Shares of Rapt Therapeutics (NASDAQ:RAPT) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $55.4444.

A number of analysts have recently commented on RAPT shares. Wells Fargo & Company set a $72.00 target price on shares of Rapt Therapeutics and gave the company an “overweight” rating in a report on Monday, November 3rd. Cowen started coverage on shares of Rapt Therapeutics in a research report on Thursday, December 18th. They set a “buy” rating for the company. HC Wainwright upped their price objective on shares of Rapt Therapeutics from $27.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Wednesday, October 8th. Finally, TD Cowen assumed coverage on Rapt Therapeutics in a research report on Thursday, December 18th. They issued a “buy” rating on the stock.

Rapt Therapeutics Price Performance

Shares of RAPT opened at $35.10 on Wednesday. The company has a 50-day simple moving average of $32.63 and a two-hundred day simple moving average of $22.97. The firm has a market capitalization of $972.62 million, a PE ratio of -3.17 and a beta of 0.45. Rapt Therapeutics has a one year low of $5.67 and a one year high of $42.39.

Rapt Therapeutics (NASDAQ:RAPT) last announced its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.23. Analysts expect that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapt Therapeutics

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

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.