As of August 23, 2023, Rapt Therapeutics, Inc. (NASDAQ:RAPT) has received a favorable average rating of “Buy” from the nine brokerages that currently cover the company, according to Bloomberg Ratings. The stock has been given a buy rating by nine investment analysts. Over the past year, the average twelve-month price target among brokers who have analyzed the stock is $38.60.
In recent news regarding RAPT Therapeutics, insider William Ho sold 2,500 shares of the company’s stock on Friday, August 18th. The shares were sold at an average price of $18.92, resulting in a total value of $47,300.00. Following this transaction, William Ho now owns 21,289 shares in RAPT Therapeutics with an estimated value of $402,787.88. This sale was disclosed in a document filed with the SEC and can be accessed through the provided link. Company insiders currently own approximately 5.50% of RAPT Therapeutics’ stock.
On Friday, August 11th, RAPT Therapeutics released its quarterly earnings data. For that quarter, the company reported earnings per share (EPS) of ($0.66), surpassing analysts’ consensus estimates of ($0.78) by $0.12.
Analysts anticipate that for the current fiscal year, RAPT Therapeutics will post -2.95 EPS.
This information indicates positive sentiments towards RAPT Therapeutics among investment analysts and showcases recent activities within the company’s operations and shareholder structure.
Please note that this article references data as of August 23, 2023 and is subject to potential changes or updates in future reports on RAPT Therapeutics
RAPT Therapeutics Gains Attention with Analyst Reports and Investor Interest
RAPT Therapeutics, a biopharmaceutical company, has recently garnered attention from analysts and investors alike. Analyst reports have discussed the company’s performance and future prospects, shedding light on its potential for growth in the market.
One prominent analyst firm, Piper Sandler, recently increased its price objective for RAPT Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report dated August 14th, 2023. This positive outlook indicates their belief that the stock has the potential for significant gains.
Similarly, Stifel Nicolaus initiated coverage on RAPT Therapeutics with a “buy” rating on August 8th, setting a price objective of $40.00 for the company. This further reinforces the optimistic sentiment surrounding the stock and highlights investor interest in its potential.
HC Wainwright also reiterated its “buy” rating on RAPT Therapeutics and set a price target of $41.00 in their research report dated August 14th, indicating confidence in the company’s growth prospects.
However, not all reports were as bullish on RAPT Therapeutics’ stock. JPMorgan Chase & Co. lowered their price objective from $39.00 to $32.00 while maintaining an “overweight” rating for the company in a research report dated August 16th. This adjustment may imply some caution regarding the stock’s performance moving forward.
Barclays, on the other hand, began covering RAPT Therapeutics in June 2023 giving it an “overweight” rating alongside a price target of $35.00 per share.
Alongside these analyst reports are notable investments made by several large institutional investors who have modified their holdings of RAPT Therapeutics’ stock recently. Credit Suisse AG raised its stake by 2%, Tower Research Capital LLC TRC increased its shares by 46.7%, Northern Trust Corp by 0.3%, and California State Teachers Retirement System by 3%. These investments suggest confidence in RAPT Therapeutics’ long-term prospects.
On the market front, RAPT Therapeutics opened at $20.18 on August 23, 2023. The company currently holds a market capitalization of $693.38 million, while its price-to-earnings (PE) ratio stands at -7.50. With a beta of 0.35, RAPT Therapeutics exhibits a lower volatility compared to the broader market.
The stock has experienced fluctuation over the past year, with a 52-week low of $15.59 and a high of $32.45. This range indicates varying investor sentiment and the potential for future price movements.
Despite the mixture of analyst opinions surrounding RAPT Therapeutics, it is evident that there is significant interest in the company’s potential for growth and performance in the biopharmaceutical industry. Investors will continue to closely monitor developments within the company as they weigh their investment decisions based on these factors.
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