RAPT Therapeutics’ (RAPT) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of RAPT Therapeutics (NASDAQ:RAPT) in a research note issued to investors on Tuesday,Benzinga reports.

Several other research analysts have also commented on RAPT. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $8.00 to $2.00 in a report on Monday. UBS Group reduced their target price on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday. 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 presently has a consensus rating of “Hold” and a consensus price target of $13.00.

RAPT Therapeutics Stock Performance

RAPT stock opened at $1.28 on Tuesday. The business has a fifty day simple moving average of $1.96 and a 200-day simple moving average of $3.05. RAPT Therapeutics has a 52 week low of $1.25 and a 52 week high of $27.35.

Institutional Investors Weigh In On RAPT Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in RAPT Therapeutics by 21.2% during the 1st quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock worth $22,386,000 after acquiring an additional 436,629 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of RAPT Therapeutics by 176,725.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock worth $2,157,000 after purchasing an additional 706,900 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in RAPT Therapeutics by 826.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock valued at $900,000 after purchasing an additional 263,372 shares during the period. Acadian Asset Management LLC grew its holdings in RAPT Therapeutics by 4,183.3% in the 2nd quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock valued at $1,424,000 after buying an additional 456,275 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in RAPT Therapeutics in the 2nd quarter worth approximately $108,000. Institutional investors own 99.09% of the company’s stock.

RAPT Therapeutics Company 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.