RAPT Therapeutics (NASDAQ:RAPT) Lowered to Equal Weight at Barclays

RAPT Therapeutics (NASDAQ:RAPT) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Friday, Briefing.com reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $13.00. Barclays‘s price objective would indicate a potential downside of 14.16% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Cantor Fitzgerald downgraded RAPT Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, February 20th. SVB Leerink downgraded shares of RAPT Therapeutics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $42.00 to $10.00 in a research report on Wednesday, February 21st. Leerink Partnrs cut shares of RAPT Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 21st. UBS Group downgraded shares of RAPT Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $61.00 to $10.00 in a research note on Thursday, February 22nd. Finally, Evercore ISI assumed coverage on RAPT Therapeutics in a report on Friday, February 16th. They issued an “outperform” rating for the company. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, RAPT Therapeutics has an average rating of “Hold” and a consensus target price of $24.67.

RAPT Therapeutics Trading Down 41.6 %

Shares of NASDAQ:RAPT opened at $4.66 on Friday. RAPT Therapeutics has a 52 week low of $4.39 and a 52 week high of $27.35. The company’s 50 day moving average is $8.40 and its two-hundred day moving average is $15.26. The company has a market cap of $162.17 million, a PE ratio of -1.53 and a beta of 0.52.

RAPT Therapeutics (NASDAQ:RAPT) last posted its earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.05. As a group, equities research analysts expect that RAPT Therapeutics will post -3.19 EPS for the current year.

Hedge Funds Weigh In On RAPT Therapeutics

Large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its stake in shares of RAPT Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,190 shares of the company’s stock worth $179,000 after acquiring an additional 1,824 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in RAPT Therapeutics by 65.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,602 shares of the company’s stock valued at $59,000 after purchasing an additional 2,621 shares in the last quarter. Swiss National Bank increased its position in RAPT Therapeutics by 9.6% during the 3rd quarter. Swiss National Bank now owns 49,100 shares of the company’s stock worth $816,000 after purchasing an additional 4,300 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of RAPT Therapeutics in the 4th quarter valued at about $233,000. Finally, SG Americas Securities LLC purchased a new position in shares of RAPT Therapeutics in the 4th quarter valued at about $244,000. 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.