RAPT Therapeutics (NASDAQ:RAPT) Rating Lowered to “Underweight” at JPMorgan Chase & Co.

RAPT Therapeutics (NASDAQ:RAPT) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Monday, Marketbeat.com reports.

Several other equities analysts have also recently commented on RAPT. HC Wainwright reissued a “neutral” rating on shares of RAPT Therapeutics in a research report on Tuesday, August 20th. UBS Group dropped their price target on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, RAPT Therapeutics presently has an average rating of “Hold” and a consensus target price of $14.38.

RAPT Therapeutics Stock Performance

RAPT stock opened at $1.74 on Monday. The business has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $3.10. The company has a market capitalization of $60.73 million, a P/E ratio of -0.62 and a beta of 0.33. RAPT Therapeutics has a 52-week low of $1.31 and a 52-week high of $27.35.

Institutional Investors Weigh In On RAPT Therapeutics

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in RAPT Therapeutics by 21.2% in the 1st quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock worth $22,386,000 after acquiring an additional 436,629 shares during the last quarter. Kingdon Capital Management L.L.C. raised its stake in shares of RAPT Therapeutics by 55.3% in the first quarter. Kingdon Capital Management L.L.C. now owns 1,500,000 shares of the company’s stock worth $13,470,000 after purchasing an additional 534,172 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of RAPT Therapeutics by 188.7% in the second quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock worth $2,428,000 after purchasing an additional 520,368 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of RAPT Therapeutics by 176,725.0% during the second 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 in the last quarter. Finally, Redmile Group LLC boosted its position in shares of RAPT Therapeutics by 80.6% during the first quarter. Redmile Group LLC now owns 662,398 shares of the company’s stock valued at $5,948,000 after buying an additional 295,622 shares during the last quarter. 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.