Rapt Therapeutics (NASDAQ:RAPT) Sets New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

Several research firms have commented on RAPT. HC Wainwright lowered shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 price target on the stock. in a report on Tuesday, January 20th. Guggenheim lowered Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 20th. Clear Str cut Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Wells Fargo & Company lowered Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 target price on the stock. in a research report on Tuesday, January 20th. Finally, TD Cowen lowered Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rapt Therapeutics currently has an average rating of “Hold” and a consensus price target of $48.44.

Rapt Therapeutics Stock Performance

The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -5.23 and a beta of 0.46. The business has a 50-day simple moving average of $43.54 and a two-hundred day simple moving average of $30.01.

Institutional Trading of Rapt Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fcpm Iii Services B.V. boosted its holdings in Rapt Therapeutics by 432.6% during the fourth quarter. Fcpm Iii Services B.V. now owns 1,833,333 shares of the company’s stock worth $62,095,000 after buying an additional 1,489,096 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Rapt Therapeutics during the 4th quarter valued at approximately $33,305,000. Braidwell LP acquired a new stake in shares of Rapt Therapeutics during the 4th quarter valued at approximately $31,489,000. Siren L.L.C. boosted its stake in shares of Rapt Therapeutics by 136.9% during the 4th quarter. Siren L.L.C. now owns 1,375,000 shares of the company’s stock worth $46,571,000 after acquiring an additional 794,534 shares in the last quarter. Finally, Boone Capital Management LLC acquired a new stake in shares of Rapt Therapeutics in the 3rd quarter worth approximately $20,180,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

About Rapt Therapeutics

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.