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

Shares of Rapt Therapeutics (NASDAQ:RAPT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.98 and last traded at $57.9530, with a volume of 1598542 shares. The stock had previously closed at $57.80.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a report on Thursday, January 22nd. Wells Fargo & Company downgraded Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective for the company. in a report on Tuesday, January 20th. JPMorgan Chase & Co. lifted their target price on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Clear Str downgraded Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, TD Cowen lowered Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rapt Therapeutics currently has an average rating of “Hold” and a consensus target price of $48.44.

Rapt Therapeutics Trading Up 0.0%

The stock has a market capitalization of $1.61 billion, a PE ratio of -5.24 and a beta of 0.46. The business’s 50-day moving average is $45.29 and its two-hundred day moving average is $31.35.

Institutional Trading of Rapt Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Rapt Therapeutics in the 4th quarter valued at approximately $46,000. Invesco Ltd. boosted its holdings in Rapt Therapeutics by 411.7% in the first quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after purchasing an additional 47,391 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in Rapt Therapeutics during the fourth quarter valued at $153,000. AQR Capital Management LLC acquired a new stake in shares of Rapt Therapeutics during the first quarter worth $188,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Rapt Therapeutics during the fourth quarter worth $227,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

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.