RAPT Therapeutics (NASDAQ:RAPT) Lowered to “Neutral” Rating by Piper Sandler

Piper Sandler lowered shares of RAPT Therapeutics (NASDAQ:RAPT) from an overweight rating to a neutral rating in a research note released on Monday morning, Marketbeat reports. They currently have $2.00 target price on the stock, down from their previous target price of $8.00.

RAPT has been the topic of several other research reports. HC Wainwright reissued a “neutral” rating on shares of RAPT Therapeutics in a report on Tuesday, August 20th. JPMorgan Chase & Co. lowered shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday. Finally, UBS Group reduced their target price on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.00.

RAPT Therapeutics Price Performance

Shares of RAPT Therapeutics stock opened at $1.57 on Monday. The firm has a market capitalization of $54.79 million, a PE ratio of -0.56 and a beta of 0.33. The company’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $3.06. RAPT Therapeutics has a 52-week low of $1.31 and a 52-week high of $27.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in RAPT Therapeutics during the 1st quarter worth about $97,000. EntryPoint Capital LLC acquired a new position in RAPT Therapeutics during the 1st quarter worth about $161,000. XTX Topco Ltd acquired a new position in RAPT Therapeutics during the 2nd quarter worth about $108,000. Hennion & Walsh Asset Management Inc. lifted its position in RAPT Therapeutics by 8.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock worth $148,000 after buying an additional 3,824 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in RAPT Therapeutics by 66.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 84,586 shares of the company’s stock worth $258,000 after buying an additional 33,692 shares in the last quarter. Institutional investors and hedge funds 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.