Rapt Therapeutics (NASDAQ:RAPT) Trading Down 9.2% – Should You Sell?

by · The Cerbat Gem

Shares of Rapt Therapeutics (NASDAQ:RAPT – Get Free Report) were down 9.2% during mid-day trading on Monday . The company traded as low as $33.63 and last traded at $33.4240. Approximately 255,118 shares changed hands during trading, an increase of 21% from the average daily volume of 210,240 shares. The stock had previously closed at $36.80.

Wall Street Analyst Weigh In

RAPT has been the subject of a number of analyst reports. Wall Street Zen raised Rapt Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Wells Fargo & Company set a $72.00 target price on shares of Rapt Therapeutics and gave the company an “overweight” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. raised their price target on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Guggenheim started coverage on shares of Rapt Therapeutics in a report on Monday, October 27th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapt Therapeutics in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Read Our Latest Analysis on Rapt Therapeutics

Rapt Therapeutics Stock Down 9.7%

The firm has a market capitalization of $920.53 million, a PE ratio of -3.00 and a beta of 0.43. The stock has a 50-day simple moving average of $30.39 and a 200-day simple moving average of $18.69.

Rapt Therapeutics (NASDAQ:RAPT – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.23. Equities analysts forecast that Rapt Therapeutics will post -2.14 earnings per share for the current fiscal year.

Institutional Trading of Rapt Therapeutics

A number of institutional investors have recently modified their holdings of RAPT. Charles Schwab Investment Management Inc. grew its stake in Rapt Therapeutics by 112.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company’s stock valued at $184,000 after buying an additional 79,967 shares in the last quarter. Invesco Ltd. lifted its position in shares of Rapt Therapeutics by 411.7% during the first quarter. Invesco Ltd. now owns 58,901 shares of the company’s stock worth $72,000 after acquiring an additional 47,391 shares in the last quarter. Nuveen LLC bought a new position in shares of Rapt Therapeutics in the first quarter worth $143,000. Comerica Bank grew its position in shares of Rapt Therapeutics by 53.9% in the first quarter. Comerica Bank now owns 89,327 shares of the company’s stock valued at $109,000 after purchasing an additional 31,287 shares in the last quarter. Finally, Nantahala Capital Management LLC lifted its holdings in Rapt Therapeutics by 303.1% during the 1st quarter. Nantahala Capital Management LLC now owns 5,012,927 shares of the company’s stock worth $6,116,000 after purchasing an additional 3,769,414 shares in the last quarter. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

Rapt Therapeutics Company Profile

(Get Free Report)

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.

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