Rapt Therapeutics (NASDAQ:RAPT) Reaches New 12-Month High – Still a Buy?

Rapt Therapeutics (NASDAQ:RAPT)’s share price reached a new 52-week high on Friday . The stock traded as high as $57.74 and last traded at $57.74, with a volume of 1321908 shares changing hands. The stock had previously closed at $57.63.

Wall Street Analyst Weigh In

RAPT has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Thursday, January 22nd. Guggenheim lowered Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 20th. Piper Sandler downgraded shares of Rapt Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 target price on the stock. in a research report on Tuesday, January 20th. HC Wainwright cut shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a report on Tuesday, January 20th. Finally, Wells Fargo & Company downgraded Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rapt Therapeutics has a consensus rating of “Hold” and an average price target of $48.44.

Rapt Therapeutics Stock Up 0.2%

The company’s fifty day moving average is $37.41 and its 200-day moving average is $25.91. The company has a market cap of $1.60 billion, a PE ratio of -5.22 and a beta of 0.45.

Rapt Therapeutics (NASDAQ:RAPT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.23. Equities research analysts expect that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Trading of Rapt Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of Rapt Therapeutics by 411.7% during 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 during the last quarter. AQR Capital Management LLC bought a new position in Rapt Therapeutics in the 1st quarter worth $188,000. Dimensional Fund Advisors LP purchased a new position in Rapt Therapeutics during the third quarter valued at $231,000. UBS Group AG grew its holdings in Rapt Therapeutics by 680.3% during the third quarter. UBS Group AG now owns 28,808 shares of the company’s stock valued at $743,000 after purchasing an additional 25,116 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in Rapt Therapeutics by 32.0% in the third quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock worth $532,000 after buying an additional 5,000 shares in the last quarter. 99.09% of the stock is currently owned by institutional investors.

Rapt Therapeutics Company Profile

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.