Wells Fargo & Company Lowers RAPT Therapeutics (NASDAQ:RAPT) Price Target to $4.00

RAPT Therapeutics (NASDAQ:RAPT) had its price target trimmed by Wells Fargo & Company from $17.00 to $4.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently weighed in on RAPT. UBS Group cut their price objective on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. HC Wainwright restated a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday. Piper Sandler lowered RAPT Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $8.00 to $2.00 in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. downgraded RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.50.

RAPT Therapeutics Trading Down 13.7 %

Shares of RAPT stock opened at $1.11 on Tuesday. The company’s fifty day moving average price is $1.93 and its 200-day moving average price is $2.99. The stock has a market cap of $38.56 million, a PE ratio of -0.40 and a beta of 0.33. RAPT Therapeutics has a 12 month low of $1.03 and a 12 month high of $27.35.

Hedge Funds Weigh In On RAPT Therapeutics

Hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of RAPT Therapeutics by 8.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock valued at $148,000 after acquiring an additional 3,824 shares during the last quarter. Acadian Asset Management LLC bought a new position in RAPT Therapeutics during the first quarter valued at approximately $97,000. EntryPoint Capital LLC purchased a new stake in RAPT Therapeutics in the first quarter worth approximately $161,000. Readystate Asset Management LP bought a new stake in RAPT Therapeutics in the 3rd quarter worth approximately $36,000. Finally, Bank of New York Mellon Corp raised its stake in RAPT Therapeutics by 24.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 114,590 shares of the company’s stock valued at $349,000 after buying an additional 22,175 shares during the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

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.