RAPT Therapeutics (NASDAQ:RAPT) Stock Price Down 7.3%

Posted by Defense World Staff on Mar 12th, 2023

Shares of RAPT Therapeutics, Inc. (NASDAQ:RAPT – Get Rating) were down 7.3% on Friday . The company traded as low as $26.40 and last traded at $26.74. Approximately 125,263 shares changed hands during trading, a decline of 71% from the average daily volume of 427,655 shares. The stock had previously closed at $28.84.

Wall Street Analyst Weigh In

RAPT has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on RAPT Therapeutics from $55.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, January 4th. Piper Sandler reduced their price objective on RAPT Therapeutics from $34.00 to $33.00 in a research report on Thursday, December 8th. Guggenheim initiated coverage on RAPT Therapeutics in a research report on Wednesday, January 4th. They set a “buy” rating and a $55.00 price objective for the company. The Goldman Sachs Group initiated coverage on RAPT Therapeutics in a research report on Thursday, December 1st. They set a “buy” rating and a $27.00 price objective for the company. Finally, HC Wainwright reduced their price objective on RAPT Therapeutics from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, November 14th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $44.14.

RAPT Therapeutics Price Performance

The business has a 50-day simple moving average of $27.15 and a two-hundred day simple moving average of $23.55.

Insiders Place Their Bets

In other RAPT Therapeutics news, insider William Ho sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $25.56, for a total value of $127,800.00. Following the completion of the sale, the insider now owns 35,072 shares of the company’s stock, valued at $896,440.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 15,742 shares of company stock valued at $384,252 over the last quarter. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On RAPT Therapeutics

Several large investors have recently made changes to their positions in the business. Deutsche Bank AG lifted its position in shares of RAPT Therapeutics by 0.3% during the 2nd quarter. Deutsche Bank AG now owns 289,114 shares of the company’s stock worth $5,277,000 after purchasing an additional 778 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of RAPT Therapeutics by 6.9% during the 3rd quarter. MetLife Investment Management LLC now owns 13,805 shares of the company’s stock worth $332,000 after purchasing an additional 886 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in shares of RAPT Therapeutics during the 4th quarter worth about $28,000. Great West Life Assurance Co. Can acquired a new position in shares of RAPT Therapeutics during the 3rd quarter worth about $28,000. Finally, Legal & General Group Plc lifted its position in shares of RAPT Therapeutics by 14.1% during the 4th quarter. Legal & General Group Plc now owns 10,278 shares of the company’s stock worth $204,000 after purchasing an additional 1,268 shares during the last quarter.

RAPT Therapeutics Company Profile

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Rapt Therapeutics, Inc operates as a clinical stage immunology-based biopharmaceutical company. It focuses on discovering, developing and commercializing oral small molecule therapies for patients in oncology and inflammatory diseases.. The company was founded in 2015 and is headquartered in South San Francisco, CA.