RAPT Therapeutics (NASDAQ:RAPT) Receives “Hold” Rating from Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of RAPT Therapeutics (NASDAQ:RAPT) in a research note published on Wednesday morning, MarketBeat reports. Stifel Nicolaus currently has a $2.00 price objective on the stock, down from their prior price objective of $7.00.

A number of other analysts have also commented on RAPT. Piper Sandler lowered RAPT Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $8.00 to $2.00 in a research note on Monday, November 11th. HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a report on Tuesday. Wells Fargo & Company reduced their price objective on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday. UBS Group lowered their target price on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. downgraded RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.50.

RAPT Therapeutics Stock Performance

RAPT stock opened at $1.11 on Wednesday. The stock’s 50 day moving average price is $1.93 and its 200 day moving average price is $2.99. The firm has a market cap of $38.56 million, a P/E ratio of -0.40 and a beta of 0.33. RAPT Therapeutics has a 1 year low of $1.03 and a 1 year high of $27.35.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Barclays PLC increased its stake in RAPT Therapeutics by 277.2% during the third quarter. Barclays PLC now owns 39,729 shares of the company’s stock worth $79,000 after acquiring an additional 29,195 shares during the last quarter. Readystate Asset Management LP purchased a new stake in shares of RAPT Therapeutics during the 3rd quarter worth about $36,000. Los Angeles Capital Management LLC increased its position in RAPT Therapeutics by 138.1% during the 3rd 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 in the last quarter. Exchange Traded Concepts LLC increased its position in RAPT Therapeutics by 244.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock worth $179,000 after purchasing an additional 63,235 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in RAPT Therapeutics by 176,725.0% in the second quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after buying an additional 706,900 shares during the period. 99.09% of the stock is 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.