Rapt Therapeutics (NASDAQ:RAPT) Sets New 1-Year High – Here’s What Happened

Shares of Rapt Therapeutics (NASDAQ:RAPT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $57.86 and last traded at $57.84, with a volume of 1271455 shares. The stock had previously closed at $57.72.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RAPT. Barclays lowered shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective on the stock. in a research report on Wednesday, January 21st. Wells Fargo & Company cut shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a research report on Tuesday, January 20th. Guggenheim lowered shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 20th. Clear Str downgraded Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, TD Cowen lowered Rapt Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Rapt Therapeutics currently has an average rating of “Hold” and a consensus price target of $48.44.

Rapt Therapeutics Stock Up 0.2%

The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -5.23 and a beta of 0.46. The firm has a fifty day moving average price of $43.54 and a 200-day moving average price of $30.01.

Institutional Investors Weigh In On Rapt Therapeutics

Several hedge funds have recently modified their holdings of RAPT. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Rapt Therapeutics in the fourth quarter valued at approximately $46,000. China Universal Asset Management Co. Ltd. purchased a new position in Rapt Therapeutics during the fourth quarter worth approximately $153,000. Bridgeway Capital Management LLC boosted its holdings in shares of Rapt Therapeutics by 32.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after purchasing an additional 5,000 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of Rapt Therapeutics during the 4th quarter valued at $227,000. Finally, Jain Global LLC purchased a new stake in shares of Rapt Therapeutics during the 4th quarter valued at $251,000. 99.09% of the stock is owned by institutional investors and hedge funds.

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.