RAPT Therapeutics (NASDAQ:RAPT) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of RAPT Therapeutics (NASDAQ:RAPT) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $41.00 price target on the stock. HC Wainwright also issued estimates for RAPT Therapeutics’ Q4 2023 earnings at ($0.81) EPS, FY2023 earnings at ($3.05) EPS, Q1 2024 earnings at ($0.82) EPS, Q2 2024 earnings at ($0.81) EPS, Q3 2024 earnings at ($0.79) EPS, Q4 2024 earnings at ($0.80) EPS and FY2024 earnings at ($3.22) EPS.

A number of other research firms have also weighed in on RAPT. Piper Sandler upped their target price on shares of RAPT Therapeutics from $28.00 to $31.00 and gave the stock an overweight rating in a research note on Monday, August 14th. Stifel Nicolaus assumed coverage on shares of RAPT Therapeutics in a research note on Tuesday, August 8th. They set a buy rating and a $40.00 target price on the stock. Berenberg Bank assumed coverage on shares of RAPT Therapeutics in a research note on Thursday, September 14th. They set a buy rating and a $34.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of RAPT Therapeutics from $39.00 to $32.00 and set an overweight rating on the stock in a research note on Wednesday, August 16th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $37.20.

RAPT Therapeutics Price Performance

Shares of NASDAQ:RAPT opened at $14.14 on Wednesday. The firm has a market capitalization of $486.42 million, a PE ratio of -4.91 and a beta of 0.51. The firm’s 50-day moving average is $14.63 and its two-hundred day moving average is $18.57. RAPT Therapeutics has a 1 year low of $10.47 and a 1 year high of $31.45.

Insider Activity at RAPT Therapeutics

In related news, insider William Ho sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $15.77, for a total value of $39,425.00. Following the completion of the transaction, the insider now directly owns 18,789 shares of the company’s stock, valued at $296,302.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RAPT Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RAPT. Tower Research Capital LLC TRC boosted its holdings in shares of RAPT Therapeutics by 46.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,994 shares of the company’s stock valued at $56,000 after acquiring an additional 953 shares during the period. Royal Bank of Canada boosted its holdings in shares of RAPT Therapeutics by 87.8% in the second quarter. Royal Bank of Canada now owns 3,164 shares of the company’s stock valued at $59,000 after acquiring an additional 1,479 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of RAPT Therapeutics by 683.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,083 shares of the company’s stock valued at $93,000 after acquiring an additional 4,434 shares during the period. Quantbot Technologies LP acquired a new stake in shares of RAPT Therapeutics in the second quarter valued at approximately $107,000. Finally, Fred Alger Management LLC acquired a new stake in shares of RAPT Therapeutics in the fourth quarter valued at approximately $122,000. 99.09% of the stock is owned by institutional investors and hedge funds.

About RAPT Therapeutics

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the United States. 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.