RAPT Therapeutics (NASDAQ:RAPT) Lowered to “Underweight” Rating by 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 research note issued to investors on Monday,Briefing.com Automated Import reports.

RAPT has been the topic of a number of other research reports. HC Wainwright reaffirmed a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday, August 20th. UBS Group reduced their target price on 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, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.17.

RAPT Therapeutics Stock Performance

NASDAQ RAPT traded down $1.29 during trading on Monday, reaching $1.60. 4,378,746 shares of the company’s stock were exchanged, compared to its average volume of 732,634. RAPT Therapeutics has a 1 year low of $1.32 and a 1 year high of $27.35. The stock has a market cap of $55.84 million, a P/E ratio of -0.51 and a beta of 0.33. The company has a 50 day moving average price of $1.98 and a two-hundred day moving average price of $3.15.

RAPT Therapeutics (NASDAQ:RAPT) last released its earnings results on Thursday, August 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.03. Research analysts forecast that RAPT Therapeutics will post -2.73 EPS for the current fiscal year.

Institutional Trading of RAPT Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in RAPT Therapeutics in the first quarter worth about $97,000. XTX Topco Ltd acquired a new position in RAPT Therapeutics in the second quarter worth about $108,000. Hennion & Walsh Asset Management Inc. grew its stake in RAPT Therapeutics by 8.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock worth $148,000 after purchasing an additional 3,824 shares in the last quarter. EntryPoint Capital LLC acquired a new position in RAPT Therapeutics in the first quarter worth about $161,000. Finally, Exchange Traded Concepts LLC grew its stake in RAPT Therapeutics by 244.7% in the third 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. 99.09% of the stock is currently owned by institutional investors and hedge funds.

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.