RAPT Therapeutics (NASDAQ:RAPT) Lowered to “Neutral” Rating by Piper Sandler

Piper Sandler lowered shares of RAPT Therapeutics (NASDAQ:RAPT) from an overweight rating to a neutral rating in a research report report published on Monday, MarketBeat Ratings reports. Piper Sandler currently has $2.00 price objective on the stock, down from their previous price objective of $8.00.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday. HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a research report on Tuesday, August 20th. Finally, UBS Group dropped their target price on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.00.

RAPT Therapeutics Trading Down 18.5 %

Shares of RAPT Therapeutics stock opened at $1.28 on Monday. The stock has a market capitalization of $44.68 million, a price-to-earnings ratio of -0.46 and a beta of 0.33. The firm’s 50-day moving average price is $1.96 and its two-hundred day moving average price is $3.05. RAPT Therapeutics has a 1-year low of $1.25 and a 1-year high of $27.35.

Institutional Investors Weigh In On RAPT Therapeutics

Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. increased its position in shares of RAPT Therapeutics by 176,725.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after buying an additional 706,900 shares in the last quarter. Kingdon Capital Management L.L.C. raised its position in shares of RAPT Therapeutics by 55.3% during the first quarter. Kingdon Capital Management L.L.C. now owns 1,500,000 shares of the company’s stock worth $13,470,000 after purchasing an additional 534,172 shares during the period. Federated Hermes Inc. lifted its holdings in shares of RAPT Therapeutics by 188.7% during the 2nd quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock valued at $2,428,000 after purchasing an additional 520,368 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of RAPT Therapeutics by 4,183.3% in the 2nd quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock valued at $1,424,000 after purchasing an additional 456,275 shares during the period. Finally, Vanguard Group Inc. increased its stake in RAPT Therapeutics by 21.2% during 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 in the last quarter. 99.09% of the stock is currently owned by institutional investors and hedge funds.

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.