TD Cowen Begins Coverage on Rapt Therapeutics (NASDAQ:RAPT)

Stock analysts at TD Cowen assumed coverage on shares of Rapt Therapeutics (NASDAQ:RAPT) in a report released on Thursday,Benzinga reports. The brokerage set a “buy” rating on the stock.

RAPT has been the subject of a number of other reports. Leerink Partners raised shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and increased their target price for the company from $16.00 to $37.00 in a research report on Friday, September 26th. Barclays dropped their price objective on Rapt Therapeutics from $58.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their price objective on Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Wells Fargo & Company set a $72.00 target price on Rapt Therapeutics and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Zacks Research downgraded Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rapt Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $50.50.

Rapt Therapeutics Price Performance

Shares of Rapt Therapeutics stock opened at $33.18 on Thursday. The firm has a market cap of $919.42 million, a PE ratio of -3.00 and a beta of 0.43. Rapt Therapeutics has a 1 year low of $5.67 and a 1 year high of $42.39. The stock has a fifty day moving average price of $30.64 and a 200-day moving average price of $19.16.

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

Institutional Trading of Rapt Therapeutics

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

Rapt Therapeutics Company Profile

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.