Rapt Therapeutics (NASDAQ:RAPT) Sees Strong Trading Volume – Here’s Why

by · The Markets Daily

Rapt Therapeutics (NASDAQ:RAPT – Get Free Report) shares saw an uptick in trading volume on Wednesday . 297,424 shares were traded during mid-day trading, an increase of 50% from the previous session’s volume of 198,388 shares.The stock last traded at $31.5770 and had previously closed at $29.97.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen upgraded Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Leerink Partners raised Rapt Therapeutics from a “market perform” rating to an “outperform” rating and upped their target price for the company from $16.00 to $37.00 in a report on Friday, September 26th. Guggenheim began coverage on Rapt Therapeutics in a research note on Monday, October 27th. They issued a “buy” rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Rapt Therapeutics from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Finally, UBS Group set a $9.00 price objective on Rapt Therapeutics and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rapt Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Check Out Our Latest Stock Report on Rapt Therapeutics

Rapt Therapeutics Stock Up 9.4%

The firm has a market cap of $908.72 million, a P/E ratio of -2.96 and a beta of 0.20. The business has a fifty day simple moving average of $27.78 and a 200-day simple moving average of $16.24.

Rapt Therapeutics (NASDAQ:RAPT – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.23. On average, sell-side analysts anticipate that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapt Therapeutics

A number of hedge funds have recently bought and sold shares of RAPT. Bridgeway Capital Management LLC increased its holdings in shares of Rapt Therapeutics by 32.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 20,625 shares of the company’s stock valued at $532,000 after acquiring an additional 5,000 shares during the period. Dimensional Fund Advisors LP purchased a new position in Rapt Therapeutics during the 3rd quarter worth $231,000. Millennium Management LLC increased its stake in Rapt Therapeutics by 75.2% in the third quarter. Millennium Management LLC now owns 39,278 shares of the company’s stock valued at $1,013,000 after purchasing an additional 16,854 shares during the period. UBS Group AG raised its holdings in shares of Rapt Therapeutics by 680.3% in the third quarter. UBS Group AG now owns 28,808 shares of the company’s stock valued at $743,000 after buying an additional 25,116 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its stake in shares of Rapt Therapeutics by 173.4% during the third quarter. Susquehanna International Group LLP now owns 45,382 shares of the company’s stock worth $1,170,000 after buying an additional 28,782 shares during the period. Hedge funds and other institutional investors own 99.09% of the company’s stock.

About Rapt Therapeutics

(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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