Stifel Nicolaus Reiterates Hold Rating for RAPT Therapeutics (NASDAQ:RAPT)

RAPT Therapeutics (NASDAQ:RAPT)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $2.00 price objective on the stock, down from their previous price objective of $7.00. Stifel Nicolaus’ price objective suggests a potential upside of 56.29% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. UBS Group decreased their target price on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. cut shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $2.00 in a research report on Monday. HC Wainwright reissued a “neutral” rating on shares of RAPT Therapeutics in a report on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, RAPT Therapeutics currently has an average rating of “Hold” and an average target price of $13.00.

RAPT Therapeutics Stock Performance

NASDAQ RAPT opened at $1.28 on Wednesday. The firm has a 50-day moving average of $1.96 and a 200-day moving average of $3.05. RAPT Therapeutics has a 52-week low of $1.25 and a 52-week high of $27.35.

Institutional Trading of RAPT Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RAPT. Los Angeles Capital Management LLC raised its stake in RAPT Therapeutics by 138.1% during the third quarter. Los Angeles Capital Management LLC now owns 201,439 shares of the company’s stock worth $405,000 after acquiring an additional 116,853 shares in the last quarter. Exchange Traded Concepts LLC increased its position in RAPT Therapeutics by 244.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock worth $179,000 after purchasing an additional 63,235 shares in the last quarter. Point72 Asset Management L.P. lifted 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 valued at $2,157,000 after purchasing an additional 706,900 shares during the last quarter. AQR Capital Management LLC acquired a new stake in RAPT Therapeutics in the second quarter valued at approximately $270,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of RAPT Therapeutics during the 2nd quarter valued at $329,000. 99.09% of the stock is currently 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.