RAPT Therapeutics (NASDAQ:RAPT) Given New $48.00 Price Target at Guggenheim

RAPT Therapeutics (NASDAQ:RAPT – Get Rating) had its target price dropped by stock analysts at Guggenheim from $55.00 to $48.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 148.83% from the company’s current price.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company cut their target price on shares of RAPT Therapeutics from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 4th. Cantor Fitzgerald reduced their price objective on shares of RAPT Therapeutics from $44.00 to $40.00 in a report on Wednesday. Piper Sandler decreased their price objective on shares of RAPT Therapeutics from $34.00 to $33.00 in a research report on Thursday, December 8th. The Goldman Sachs Group started coverage on RAPT Therapeutics in a report on Thursday, December 1st. They issued a “buy” rating and a $27.00 target price on the stock. Finally, HC Wainwright decreased their price target on RAPT Therapeutics from $50.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $41.38.

RAPT Therapeutics Price Performance

Shares of NASDAQ RAPT opened at $19.29 on Wednesday. The company has a market cap of $576.96 million, a price-to-earnings ratio of -7.56 and a beta of 0.46. The stock’s 50-day moving average is $27.19 and its two-hundred day moving average is $23.36. RAPT Therapeutics has a 1-year low of $9.85 and a 1-year high of $32.45.

Insider Buying and Selling

In other news, Director Wendye Robbins bought 2,500 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were acquired at an average price of $18.99 per share, for a total transaction of $47,475.00. Following the completion of the transaction, the director now owns 14,900 shares of the company’s stock, valued at $282,951. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Wendye Robbins acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was acquired at an average cost of $18.99 per share, with a total value of $47,475.00. Following the completion of the acquisition, the director now owns 14,900 shares of the company’s stock, valued at $282,951. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Ho sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $18.03, for a total transaction of $90,150.00. Following the transaction, the insider now owns 37,650 shares in the company, valued at $678,829.50. The disclosure for this sale can be found here. Insiders have sold 20,742 shares of company stock worth $532,352 in the last ninety days. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. grew its stake in shares of RAPT Therapeutics by 10.0% in the 4th quarter. Alliancebernstein L.P. now owns 30,900 shares of the company’s stock valued at $612,000 after purchasing an additional 2,800 shares during the last quarter. Trustees of Columbia University in the City of New York acquired a new stake in shares of RAPT Therapeutics during the fourth quarter worth $1,453,000. State of Wisconsin Investment Board lifted its holdings in shares of RAPT Therapeutics by 18.8% during the fourth quarter. State of Wisconsin Investment Board now owns 28,774 shares of the company’s stock worth $570,000 after purchasing an additional 4,552 shares during the period. Schonfeld Strategic Advisors LLC grew its position in RAPT Therapeutics by 165.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 281,875 shares of the company’s stock valued at $5,581,000 after buying an additional 175,585 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in RAPT Therapeutics by 14.1% in the 4th quarter. Legal & General Group Plc now owns 10,278 shares of the company’s stock valued at $204,000 after buying an additional 1,268 shares during the period.

About RAPT Therapeutics

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Rapt Therapeutics, Inc operates as a clinical stage immunology-based biopharmaceutical company. It focuses on discovering, developing and commercializing oral small molecule therapies for patients in oncology and inflammatory diseases.. The company was founded in 2015 and is headquartered in South San Francisco, CA.