HC Wainwright Lowers RAPT Therapeutics (NASDAQ:RAPT) Price Target to $50.00

RAPT Therapeutics (NASDAQ:RAPTGet Rating) had its price target decreased by investment analysts at HC Wainwright from $53.00 to $50.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 112.13% from the company’s previous close.

A number of other research firms have also weighed in on RAPT. SVB Leerink reduced their price objective on shares of RAPT Therapeutics from $49.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, August 11th. Capital One Financial began coverage on shares of RAPT Therapeutics in a research note on Wednesday, September 21st. They issued an “overweight” rating and a $48.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of RAPT Therapeutics from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, November 10th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $50.57.

RAPT Therapeutics Trading Up 3.6 %

RAPT Therapeutics stock opened at $23.57 on Monday. RAPT Therapeutics has a 1-year low of $9.85 and a 1-year high of $40.74. The firm has a market capitalization of $705.00 million, a price-to-earnings ratio of -9.24 and a beta of 0.44. The firm has a 50 day simple moving average of $22.91 and a 200 day simple moving average of $20.54.

Insider Activity

In other news, insider William Ho sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $22.32, for a total transaction of $111,600.00. Following the completion of the transaction, the insider now directly owns 47,650 shares in the company, valued at approximately $1,063,548. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 9,500 shares of company stock worth $224,965 in the last three months. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of RAPT Therapeutics by 9.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,334,683 shares of the company’s stock valued at $79,108,000 after purchasing an additional 359,978 shares in the last quarter. FMR LLC lifted its holdings in shares of RAPT Therapeutics by 28.7% during the 2nd quarter. FMR LLC now owns 4,096,166 shares of the company’s stock worth $74,756,000 after acquiring an additional 913,465 shares during the last quarter. Column Group LLC lifted its holdings in shares of RAPT Therapeutics by 91.2% during the 2nd quarter. Column Group LLC now owns 2,680,458 shares of the company’s stock worth $48,918,000 after acquiring an additional 1,278,450 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of RAPT Therapeutics by 0.3% during the 3rd quarter. BlackRock Inc. now owns 2,062,659 shares of the company’s stock worth $49,627,000 after acquiring an additional 6,076 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of RAPT Therapeutics by 8.3% during the 1st quarter. State Street Corp now owns 1,347,581 shares of the company’s stock worth $29,633,000 after acquiring an additional 103,794 shares during the last quarter. 98.42% of the stock is currently owned by hedge funds and other institutional investors.

About RAPT Therapeutics

(Get Rating)

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovering, developing, and commercializing oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases. Its lead inflammation drug candidate is RPT193, a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.

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