Point72 Asset Management L.P. Sells 182,079 Shares of RAPT Therapeutics, Inc. (NASDAQ:RAPT)

Point72 Asset Management L.P. cut its holdings in shares of RAPT Therapeutics, Inc. (NASDAQ:RAPT) by 25.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 525,221 shares of the company’s stock after selling 182,079 shares during the quarter. Point72 Asset Management L.P.’s holdings in RAPT Therapeutics were worth $1,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RAPT. Federated Hermes Inc. grew its position in RAPT Therapeutics by 188.7% during the second quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock worth $2,428,000 after buying an additional 520,368 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of RAPT Therapeutics by 4,183.3% during the 2nd quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock valued at $1,424,000 after acquiring an additional 456,275 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of RAPT Therapeutics by 826.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after purchasing an additional 263,372 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of RAPT Therapeutics by 138.1% in the third quarter. Los Angeles Capital Management LLC now owns 201,439 shares of the company’s stock worth $405,000 after purchasing an additional 116,853 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in RAPT Therapeutics in the second quarter valued at about $329,000. 99.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RAPT shares. HC Wainwright reissued a “neutral” rating on shares of RAPT Therapeutics in a report on Monday, November 25th. 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 note on Wednesday, November 13th. JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Piper Sandler cut RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $2.00 in a report on Monday, November 11th. Finally, Wells Fargo & Company dropped their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, RAPT Therapeutics currently has an average rating of “Hold” and an average target price of $9.50.

RAPT Therapeutics Price Performance

RAPT Therapeutics stock opened at $1.09 on Wednesday. The business has a 50 day moving average of $1.69 and a 200-day moving average of $2.43. RAPT Therapeutics, Inc. has a 1 year low of $0.92 and a 1 year high of $27.35. The company has a market capitalization of $38.10 million, a P/E ratio of -0.40 and a beta of 0.07.

RAPT Therapeutics (NASDAQ:RAPT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.09. Equities analysts anticipate that RAPT Therapeutics, Inc. will post -2.77 EPS for the current year.

RAPT Therapeutics 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.