RAPT Therapeutics (NASDAQ:RAPT) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of RAPT Therapeutics (NASDAQ:RAPT) from a neutral rating to an underweight rating in a research note released on Monday morning, Marketbeat Ratings reports.

Several other equities research analysts have also weighed in on the company. HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday, August 20th. UBS Group lowered their price target on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RAPT Therapeutics has an average rating of “Hold” and an average price target of $13.00.

RAPT Therapeutics Trading Down 18.5 %

Shares of RAPT Therapeutics stock opened at $1.28 on Monday. The firm’s 50-day simple moving average is $1.96 and its 200-day simple moving average is $3.05. RAPT Therapeutics has a twelve month low of $1.25 and a twelve month high of $27.35.

Hedge Funds Weigh In On RAPT Therapeutics

Several large investors have recently made changes to their positions in RAPT. Vanguard Group Inc. boosted its position in shares of RAPT Therapeutics by 21.2% in the 1st quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock worth $22,386,000 after purchasing an additional 436,629 shares during the last quarter. Point72 Asset Management L.P. grew its position in RAPT Therapeutics by 176,725.0% in the second quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after purchasing an additional 706,900 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of RAPT Therapeutics by 826.4% in the second quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock valued at $900,000 after acquiring an additional 263,372 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of RAPT Therapeutics by 4,183.3% during the 2nd quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock worth $1,424,000 after purchasing an additional 456,275 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in RAPT Therapeutics in the second quarter valued at $108,000. Institutional investors and hedge funds 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.