JPMorgan Chase & Co. Lowers RAPT Therapeutics (NASDAQ:RAPT) Price Target to $13.00

RAPT Therapeutics (NASDAQ:RAPT) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 44.77% from the company’s previous close.

Other analysts have also issued research reports about the company. UBS Group lowered RAPT Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $61.00 to $10.00 in a research note on Thursday, February 22nd. Leerink Partnrs lowered RAPT Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 21st. Cantor Fitzgerald downgraded RAPT Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 20th. SVB Leerink downgraded RAPT Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $42.00 to $10.00 in a research report on Wednesday, February 21st. Finally, Barclays lowered their price objective on RAPT Therapeutics from $35.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RAPT Therapeutics has an average rating of “Moderate Buy” and an average target price of $25.67.

RAPT Therapeutics Trading Up 0.6 %

Shares of NASDAQ RAPT opened at $8.98 on Wednesday. The firm has a market capitalization of $312.50 million, a price-to-earnings ratio of -2.95 and a beta of 0.47. The business has a 50-day moving average of $16.25 and a 200-day moving average of $16.86. RAPT Therapeutics has a 12 month low of $6.86 and a 12 month high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last issued its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.05. On average, analysts predict that RAPT Therapeutics will post -3.21 earnings per share for the current year.

Hedge Funds Weigh In On RAPT Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in RAPT Therapeutics by 46.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,994 shares of the company’s stock worth $56,000 after purchasing an additional 953 shares in the last quarter. Royal Bank of Canada raised its holdings in RAPT Therapeutics by 87.8% in the second quarter. Royal Bank of Canada now owns 3,164 shares of the company’s stock worth $59,000 after purchasing an additional 1,479 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in RAPT Therapeutics by 347.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,981 shares of the company’s stock worth $99,000 after purchasing an additional 3,092 shares in the last quarter. Quantbot Technologies LP bought a new position in RAPT Therapeutics in the second quarter worth $107,000. Finally, Fred Alger Management LLC bought a new position in RAPT Therapeutics in the fourth quarter worth $122,000. Institutional investors own 99.09% of the company’s stock.

RAPT Therapeutics Company Profile

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. The company's lead inflammation drug candidate is zelnecirnon (RPT193), a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.