RAPT Therapeutics (NASDAQ:RAPT) Stock Rating Lowered by Piper Sandler

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

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday. UBS Group decreased their price objective on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, RAPT Therapeutics has an average rating of “Hold” and an average target price of $15.86.

RAPT Therapeutics Stock Performance

RAPT stock opened at $1.75 on Monday. The stock’s fifty day moving average is $1.97 and its two-hundred day moving average is $3.10. The stock has a market capitalization of $61.08 million, a price-to-earnings ratio of -0.56 and a beta of 0.33. RAPT Therapeutics has a 1 year low of $1.30 and a 1 year high of $27.35.

Institutional Investors Weigh In On RAPT Therapeutics

Several large investors have recently modified their holdings of RAPT. Vanguard Group Inc. raised its position in shares of RAPT Therapeutics by 21.2% during the first 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 period. Point72 Asset Management L.P. increased its stake in 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 worth $2,157,000 after purchasing an additional 706,900 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in RAPT Therapeutics by 826.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 295,241 shares of the company’s stock worth $900,000 after buying an additional 263,372 shares during the period. Acadian Asset Management LLC lifted its stake in RAPT Therapeutics by 4,183.3% during the second quarter. Acadian Asset Management LLC now owns 467,182 shares of the company’s stock valued at $1,424,000 after buying an additional 456,275 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of RAPT Therapeutics in the second quarter worth about $108,000. 99.09% of the stock is owned by institutional investors.

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.