Cantor Fitzgerald Cuts RAPT Therapeutics (NASDAQ:RAPT) Price Target to $58.00

Cantor Fitzgerald Cuts RAPT Therapeutics (NASDAQ:RAPT) Price Target to $58.00

RAPT Therapeutics (NASDAQ:RAPT) had its price target dropped by equities researchers at Cantor Fitzgerald from $71.00 to $58.00 in a research report issued on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 53.20% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of RAPT Therapeutics in a research report on Monday, August 30th. Zacks Investment Research raised RAPT Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 2nd. Finally, SVB Leerink reaffirmed a “buy” rating on shares of RAPT Therapeutics in a research report on Monday, October 4th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $58.00.

Shares of RAPT stock opened at $37.86 on Tuesday. RAPT Therapeutics has a 1 year low of $14.63 and a 1 year high of $43.26. The stock has a fifty day moving average of $34.36 and a two-hundred day moving average of $30.45. The firm has a market capitalization of $1.12 billion, a PE ratio of -15.52 and a beta of 0.12.

RAPT Therapeutics (NASDAQ:RAPT) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.01). RAPT Therapeutics had a negative return on equity of 41.61% and a negative net margin of 1,468.46%. As a group, analysts predict that RAPT Therapeutics will post -2.64 EPS for the current year.

In related news, insider Dirk G. Brockstedt sold 2,648 shares of the stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $35.78, for a total transaction of $94,745.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Ho sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $36.04, for a total value of $108,120.00. The disclosure for this sale can be found here. In the last quarter, insiders have bought 2,975 shares of company stock valued at $91,244 and have sold 164,356 shares valued at $5,570,029. Corporate insiders own 26.34% of the company’s stock.

A number of institutional investors have recently bought and sold shares of RAPT. Royal Bank of Canada raised its holdings in RAPT Therapeutics by 89.2% in the 2nd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $39,000 after acquiring an additional 580 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in RAPT Therapeutics by 45.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,409 shares of the company’s stock valued at $45,000 after acquiring an additional 440 shares in the last quarter. Citigroup Inc. raised its holdings in RAPT Therapeutics by 99.1% in the 2nd quarter. Citigroup Inc. now owns 2,714 shares of the company’s stock valued at $86,000 after acquiring an additional 1,351 shares in the last quarter. Legal & General Group Plc raised its holdings in RAPT Therapeutics by 27.3% in the 2nd quarter. Legal & General Group Plc now owns 3,047 shares of the company’s stock valued at $96,000 after acquiring an additional 653 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new position in shares of RAPT Therapeutics in the 2nd quarter worth approximately $169,000. 97.62% of the stock is owned by hedge funds and other institutional investors.

About RAPT Therapeutics

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.

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