RAPT Therapeutics’ (RAPT) “Hold” Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of RAPT Therapeutics (NASDAQ:RAPT) in a report released on Wednesday, MarketBeat Ratings reports. Stifel Nicolaus currently has a $2.00 price target on the stock, down from their prior price target of $7.00.

Several other research firms also recently commented on RAPT. HC Wainwright reaffirmed a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday. JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $2.00 in a research report on Monday, November 11th. UBS Group dropped their price objective on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Finally, Wells Fargo & Company reduced their target price on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.50.

RAPT Therapeutics Stock Performance

Shares of NASDAQ:RAPT opened at $1.11 on Wednesday. RAPT Therapeutics has a one year low of $1.03 and a one year high of $27.35. The stock has a market capitalization of $38.56 million, a price-to-earnings ratio of -0.40 and a beta of 0.33. The company has a 50-day simple moving average of $1.93 and a 200-day simple moving average of $2.99.

Institutional Trading of RAPT Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RAPT. Readystate Asset Management LP purchased a new stake in shares of RAPT Therapeutics during the 3rd quarter worth approximately $36,000. Barclays PLC boosted its position in RAPT Therapeutics by 277.2% during the third quarter. Barclays PLC now owns 39,729 shares of the company’s stock worth $79,000 after purchasing an additional 29,195 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in RAPT Therapeutics during the first quarter worth $97,000. XTX Topco Ltd purchased a new position in shares of RAPT Therapeutics in the second quarter valued at $108,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of RAPT Therapeutics by 8.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock valued at $148,000 after buying an additional 3,824 shares in the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

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. 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.