Wells Fargo & Company Has Lowered Expectations for RAPT Therapeutics (NASDAQ:RAPT) Stock Price

RAPT Therapeutics (NASDAQ:RAPT - Free Report) had its price target trimmed by Wells Fargo & Company from $17.00 to $4.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. UBS Group lowered their price objective 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. Piper Sandler downgraded shares of RAPT Therapeutics from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $8.00 to $2.00 in a report on Monday. HC Wainwright reiterated a "neutral" rating on shares of RAPT Therapeutics in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered shares of RAPT Therapeutics from a "neutral" rating to an "underweight" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned 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

Shares of NASDAQ:RAPT traded down $0.01 on Tuesday, hitting $1.74. The stock had a trading volume of 2,389,800 shares, compared to its average volume of 754,177. RAPT Therapeutics has a twelve month low of $1.31 and a twelve month high of $27.35. The company has a market capitalization of $60.73 million, a price-to-earnings ratio of -0.62 and a beta of 0.33. The firm's 50 day moving average price is $1.97 and its 200-day moving average price is $3.10.

Hedge Funds Weigh In On RAPT Therapeutics

Several institutional investors have recently bought and sold shares of RAPT. Acadian Asset Management LLC bought a new position in RAPT Therapeutics in the first quarter worth approximately $97,000. XTX Topco Ltd bought a new stake in RAPT Therapeutics during the second quarter valued at 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 valued at $148,000 after purchasing an additional 3,824 shares during the last quarter. EntryPoint Capital LLC bought a new position in RAPT Therapeutics in the first quarter worth about $161,000. Finally, Exchange Traded Concepts LLC grew its position in shares of RAPT Therapeutics by 244.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company's stock worth $179,000 after buying an additional 63,235 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.