JPMorgan Chase & Co. Downgrades RAPT Therapeutics (NASDAQ:RAPT) to Underweight

RAPT Therapeutics (NASDAQ:RAPT - Get Free Report) was downgraded by equities research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a research note issued to investors on Monday, MarketBeat reports.

Several other analysts have also recently weighed in on RAPT. UBS Group reduced their target price on shares of RAPT Therapeutics from $10.00 to $2.00 and set a "neutral" rating on the stock in a report on Monday, September 9th. HC Wainwright reaffirmed a "neutral" rating on shares of RAPT Therapeutics in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.86.

RAPT Therapeutics Price Performance

Shares of RAPT Therapeutics stock traded down $1.14 on Monday, reaching $1.75. 7,426,411 shares of the company traded hands, compared to its average volume of 746,578. The firm has a market capitalization of $61.08 million, a PE ratio of -0.56 and a beta of 0.33. The company has a 50 day moving average of $1.98 and a 200 day moving average of $3.15. RAPT Therapeutics has a 52 week low of $1.30 and a 52 week high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT - Get Free Report) last posted 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. As a group, analysts anticipate that RAPT Therapeutics will post -2.73 earnings per share for the current year.

Institutional Trading of RAPT Therapeutics

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in RAPT Therapeutics during the first quarter valued at approximately $97,000. EntryPoint Capital LLC bought a new position in shares of RAPT Therapeutics in the first quarter worth approximately $161,000. XTX Topco Ltd bought a new position in shares of RAPT Therapeutics in the second quarter worth approximately $108,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of 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 during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of RAPT Therapeutics by 66.2% in the second quarter. Los Angeles Capital Management LLC now owns 84,586 shares of the company's stock worth $258,000 after purchasing an additional 33,692 shares during the period. 99.09% of the stock is currently owned by institutional investors.

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.