Ghost Tree Capital LLC Invests $18.12 Million in RAPT Therapeutics, Inc. (NASDAQ:RAPT)

Ghost Tree Capital LLC bought a new position in shares of RAPT Therapeutics, Inc. (NASDAQ:RAPT) during the 2nd quarter, HoldingsChannel reports. The fund bought 570,000 shares of the company’s stock, valued at approximately $18,120,000. RAPT Therapeutics accounts for approximately 5.0% of Ghost Tree Capital LLC’s holdings, making the stock its 2nd largest holding.

Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC boosted its stake in RAPT Therapeutics by 4.5% in the second quarter. Los Angeles Capital Management LLC now owns 18,352 shares of the company’s stock valued at $583,000 after buying an additional 790 shares in the last quarter. BlackRock Inc. boosted its stake in RAPT Therapeutics by 0.5% in the first quarter. BlackRock Inc. now owns 1,391,280 shares of the company’s stock valued at $30,888,000 after buying an additional 7,299 shares in the last quarter. Algert Global LLC acquired a new stake in RAPT Therapeutics in the first quarter valued at about $360,000. Parkman Healthcare Partners LLC boosted its stake in RAPT Therapeutics by 60.3% in the first quarter. Parkman Healthcare Partners LLC now owns 40,364 shares of the company’s stock valued at $896,000 after buying an additional 15,187 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in RAPT Therapeutics in the first quarter valued at about $1,554,000. 87.57% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on RAPT. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price objective on shares of RAPT Therapeutics in a research note on Monday, August 30th. SVB Leerink assumed coverage on RAPT Therapeutics in a research note on Thursday, August 12th. They set an “outperform” rating and a $49.00 price target on the stock. Piper Sandler assumed coverage on RAPT Therapeutics in a research note on Sunday, June 20th. They set an “overweight” rating and a $61.00 price target on the stock. Cantor Fitzgerald lifted their price target on RAPT Therapeutics from $51.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, June 14th. Finally, Zacks Investment Research raised RAPT Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 11th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $59.86.

In other RAPT Therapeutics news, insider William Ho sold 1,000 shares of RAPT Therapeutics stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $31.75, for a total value of $31,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Group Ii Lp Column sold 4,539 shares of the business’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $30.08, for a total value of $136,533.12. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,075 shares of company stock valued at $94,198 and sold 157,412 shares valued at $5,299,545. Insiders own 26.34% of the company’s stock.

Shares of RAPT traded up $1.18 during mid-day trading on Friday, reaching $40.01. 3,387 shares of the company were exchanged, compared to its average volume of 453,985. RAPT Therapeutics, Inc. has a 52 week low of $14.63 and a 52 week high of $43.26. The stock has a market capitalization of $1.18 billion, a PE ratio of -16.11 and a beta of 0.04. The business has a 50 day simple moving average of $32.90 and a two-hundred day simple moving average of $26.62.

RAPT Therapeutics (NASDAQ:RAPT) last issued its quarterly earnings data on Wednesday, August 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.05. RAPT Therapeutics had a negative return on equity of 45.84% and a negative net margin of 1,219.06%. Equities research analysts predict that RAPT Therapeutics, Inc. will post -2.64 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for RAPT Therapeutics (NASDAQ:RAPT)

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