Rapt Therapeutics (NASDAQ:RAPT) Price Target Lowered to $56.00 at Barclays

Rapt Therapeutics (NASDAQ:RAPT) had its price target decreased by Barclays from $58.00 to $56.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on RAPT. Lifesci Capital upgraded Rapt Therapeutics to a “strong-buy” rating and set a $31.00 price objective on the stock in a research report on Tuesday, July 22nd. Guggenheim initiated coverage on shares of Rapt Therapeutics in a report on Monday, October 27th. They issued a “buy” rating and a $70.00 price target on the stock. Leerink Partnrs upgraded shares of Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. UBS Group set a $9.00 target price on shares of Rapt Therapeutics and gave the company a “neutral” rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.40.

Rapt Therapeutics Price Performance

Shares of NASDAQ RAPT traded down $0.18 during mid-day trading on Friday, hitting $28.86. The company had a trading volume of 300,521 shares, compared to its average volume of 710,168. The business’s 50-day simple moving average is $24.28 and its 200-day simple moving average is $14.31. Rapt Therapeutics has a 12 month low of $5.67 and a 12 month high of $42.39. The firm has a market cap of $477.34 million, a P/E ratio of -2.61 and a beta of 0.20.

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

Hedge Funds Weigh In On Rapt Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank grew its stake in Rapt Therapeutics by 53.9% during the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock worth $109,000 after buying an additional 31,287 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Rapt Therapeutics by 411.7% in the 1st quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after acquiring an additional 47,391 shares in the last quarter. Callan Family Office LLC boosted its holdings in shares of Rapt Therapeutics by 53.9% in the 1st quarter. Callan Family Office LLC now owns 89,327 shares of the company’s stock worth $109,000 after acquiring an additional 31,287 shares in the last quarter. Nantahala Capital Management LLC grew its position in Rapt Therapeutics by 303.1% during the 1st quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock worth $6,116,000 after acquiring an additional 3,769,414 shares during the last quarter. Finally, ADAR1 Capital Management LLC increased its holdings in Rapt Therapeutics by 408.4% during the 1st quarter. ADAR1 Capital Management LLC now owns 5,970,768 shares of the company’s stock valued at $7,284,000 after purchasing an additional 4,796,455 shares in 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.