RAPT Therapeutics’ (RAPT) “Hold” Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reissued their hold rating on shares of RAPT Therapeutics (NASDAQ:RAPT) in a research report sent to investors on Wednesday, Marketbeat reports. They currently have a $2.00 price target on the stock, down from their previous price target of $7.00.

A number of other brokerages have also commented on RAPT. Wells Fargo & Company dropped their price target on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday. HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a report on Tuesday. Piper Sandler lowered 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 report on Monday. Finally, UBS Group lowered their target price on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.00.

RAPT Therapeutics Stock Down 9.8 %

Shares of NASDAQ:RAPT opened at $1.57 on Wednesday. The business’s 50 day moving average is $1.96 and its 200 day moving average is $3.05. The stock has a market cap of $54.79 million, a price-to-earnings ratio of -0.57 and a beta of 0.33. RAPT Therapeutics has a 12-month low of $1.31 and a 12-month high of $27.35.

Hedge Funds Weigh In On RAPT Therapeutics

Several hedge funds have recently made changes to their positions in RAPT. Acadian Asset Management LLC purchased a new position in shares of RAPT Therapeutics in the first quarter valued at $97,000. XTX Topco Ltd purchased a new position in RAPT Therapeutics during the second quarter worth about $108,000. Hennion & Walsh Asset Management Inc. grew its position in 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 buying an additional 3,824 shares in the last quarter. EntryPoint Capital LLC purchased a new position in RAPT Therapeutics during the first quarter worth about $161,000. Finally, Exchange Traded Concepts LLC grew its position in RAPT Therapeutics by 244.7% during the third quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock worth $179,000 after buying an additional 63,235 shares in the last quarter. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

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.