Wells Fargo & Company Issues Pessimistic Forecast for RAPT Therapeutics (NASDAQ:RAPT) Stock Price

RAPT Therapeutics (NASDAQ:RAPT) had its price target dropped by analysts at Wells Fargo & Company from $17.00 to $4.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 127.92% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright restated a “neutral” rating on shares of RAPT Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. downgraded RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday. UBS Group lowered their target price on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Piper Sandler lowered RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $2.00 in a report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.38.

RAPT Therapeutics Stock Up 0.3 %

Shares of NASDAQ:RAPT opened at $1.76 on Tuesday. RAPT Therapeutics has a 52-week low of $1.31 and a 52-week high of $27.35. The stock has a market cap of $61.25 million, a P/E ratio of -0.57 and a beta of 0.33. The business has a fifty day moving average of $1.97 and a two-hundred day moving average of $3.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RAPT. Hennion & Walsh Asset Management Inc. raised its holdings in shares of RAPT Therapeutics by 8.6% in 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 in the last quarter. Acadian Asset Management LLC bought a new stake in RAPT Therapeutics in the first quarter valued at approximately $97,000. EntryPoint Capital LLC purchased a new stake in shares of RAPT Therapeutics during the first quarter valued at approximately $161,000. Bank of New York Mellon Corp grew its holdings in shares of RAPT Therapeutics by 24.0% in the second quarter. Bank of New York Mellon Corp now owns 114,590 shares of the company’s stock worth $349,000 after purchasing an additional 22,175 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of RAPT Therapeutics by 66.2% in the second 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 during the period. 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.