HC Wainwright Reaffirms “Neutral” Rating for RAPT Therapeutics (NASDAQ:RAPT)

RAPT Therapeutics (NASDAQ:RAPT)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a research note issued on Monday,Benzinga reports.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. UBS Group cut their price objective on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Wells Fargo & Company lowered their target price on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Piper Sandler downgraded RAPT Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $2.00 in a research report on Monday, November 11th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $2.00 price objective (down from $7.00) on shares of RAPT Therapeutics in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.50.

RAPT Therapeutics Stock Performance

RAPT opened at $1.12 on Monday. The company has a market cap of $39.16 million, a PE ratio of -0.40 and a beta of 0.33. The stock has a 50-day moving average of $1.81 and a 200-day moving average of $2.62. RAPT Therapeutics has a 52-week low of $1.00 and a 52-week high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.09. On average, research analysts predict that RAPT Therapeutics will post -2.8 earnings per share for the current year.

Institutional Trading of RAPT Therapeutics

Several institutional investors have recently made changes to their positions in RAPT. Readystate Asset Management LP bought a new stake in RAPT Therapeutics during the third quarter worth about $36,000. Barclays PLC increased its holdings in RAPT Therapeutics by 277.2% during the 3rd quarter. Barclays PLC now owns 39,729 shares of the company’s stock valued at $79,000 after purchasing an additional 29,195 shares in the last quarter. Acadian Asset Management LLC bought a new position in RAPT Therapeutics in the 1st quarter valued at $97,000. XTX Topco Ltd acquired a new position in RAPT Therapeutics in the second quarter worth $108,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of RAPT Therapeutics by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock worth $148,000 after purchasing an additional 3,824 shares during the last quarter. 99.09% of the stock is currently owned by institutional investors and hedge funds.

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.