RAPT Therapeutics (NASDAQ:RAPT) Price Target Cut to $23.00

RAPT Therapeutics (NASDAQ:RAPT – Get Rating) had its price objective dropped by The Goldman Sachs Group from $27.00 to $23.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 19.23% from the stock’s previous close.

Several other analysts have also issued reports on RAPT. Cantor Fitzgerald cut their price objective on RAPT Therapeutics from $44.00 to $40.00 in a report on Wednesday. Guggenheim cut their price objective on RAPT Therapeutics from $55.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday. HC Wainwright cut their price objective on RAPT Therapeutics from $50.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company cut their price objective on RAPT Therapeutics from $55.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, January 4th. Finally, Piper Sandler cut their price objective on RAPT Therapeutics from $34.00 to $33.00 in a report on Thursday, December 8th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, RAPT Therapeutics has an average rating of “Buy” and an average price target of $41.38.

RAPT Therapeutics Stock Up 1.3 %

RAPT opened at $19.29 on Wednesday. The stock has a fifty day moving average of $27.19 and a 200-day moving average of $23.36. The firm has a market capitalization of $576.96 million, a P/E ratio of -7.56 and a beta of 0.46. RAPT Therapeutics has a 12-month low of $9.85 and a 12-month high of $32.45.

Insider Buying and Selling at RAPT Therapeutics

In other RAPT Therapeutics news, insider William Ho sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the transaction, the insider now directly owns 30,072 shares in the company, valued at $902,160. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider William Ho sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the insider now directly owns 30,072 shares of the company’s stock, valued at $902,160. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Wendye Robbins purchased 2,500 shares of the stock in a transaction dated Tuesday, March 14th. The stock was acquired at an average cost 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 approximately $282,951. The disclosure for this purchase can be found here. Insiders have sold a total of 20,742 shares of company stock worth $532,352 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On RAPT Therapeutics

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

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.