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

RAPT Therapeutics (NASDAQ:RAPT)‘s stock had its “hold” rating restated by equities researchers at Stifel Nicolaus in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $2.00 target price on the stock, down from their previous target price of $7.00. Stifel Nicolaus’ price objective indicates a potential upside of 56.29% from the company’s previous close.

A number of other brokerages also recently issued reports on RAPT. HC Wainwright restated a “neutral” rating on shares of RAPT Therapeutics in a research report on Tuesday. 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 report on Monday. UBS Group reduced their price objective 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. Wells Fargo & Company lowered their target price on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.00.

RAPT Therapeutics Stock Performance

NASDAQ RAPT opened at $1.28 on Wednesday. RAPT Therapeutics has a twelve month low of $1.25 and a twelve month high of $27.35. The stock has a fifty day simple moving average of $1.96 and a 200 day simple moving average of $3.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of RAPT Therapeutics by 21.2% during the first quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock valued at $22,386,000 after acquiring an additional 436,629 shares in the last quarter. Kingdon Capital Management L.L.C. increased its stake in RAPT Therapeutics by 55.3% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 1,500,000 shares of the company’s stock valued at $13,470,000 after purchasing an additional 534,172 shares in the last quarter. Federated Hermes Inc. raised its holdings in RAPT Therapeutics by 188.7% during the second quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock worth $2,428,000 after buying an additional 520,368 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of RAPT Therapeutics by 176,725.0% in the second quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock valued at $2,157,000 after buying an additional 706,900 shares in the last quarter. Finally, Redmile Group LLC grew its holdings 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.

About RAPT Therapeutics

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.