Rapt Therapeutics (NASDAQ:RAPT) Hits New 12-Month High – Here’s Why

Rapt Therapeutics (NASDAQ:RAPT)’s share price hit a new 52-week high on Tuesday . The company traded as high as $57.86 and last traded at $57.84, with a volume of 1271455 shares changing hands. The stock had previously closed at $57.72.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RAPT shares. Barclays lowered Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, January 21st. Piper Sandler lowered shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 price target on the stock. in a report on Tuesday, January 20th. HC Wainwright cut shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price objective on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Finally, Lifesci Capital downgraded shares of Rapt Therapeutics from an “outperform” rating to a “hold” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.44.

Rapt Therapeutics Price Performance

The stock has a 50-day moving average price of $44.87 and a 200-day moving average price of $30.72. The firm has a market capitalization of $1.60 billion, a PE ratio of -5.23 and a beta of 0.47.

Institutional Trading of Rapt Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in Rapt Therapeutics by 411.7% in the first quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock valued at $72,000 after buying an additional 47,391 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Rapt Therapeutics in the 1st quarter worth approximately $188,000. Dimensional Fund Advisors LP bought a new stake in shares of Rapt Therapeutics in the 3rd quarter valued at approximately $231,000. UBS Group AG raised its position in shares of Rapt Therapeutics by 680.3% during the 3rd quarter. UBS Group AG now owns 28,808 shares of the company’s stock valued at $743,000 after acquiring an additional 25,116 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Rapt Therapeutics by 32.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after acquiring an additional 5,000 shares in the last quarter. 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.