The Swiss National Bank, a prominent financial institution, has been making waves in the biopharmaceutical industry. It recently disclosed its heightened involvement in RAPT Therapeutics, Inc. (NASDAQ:RAPT), a company dedicated to the research and development of oral small molecule therapies for individuals afflicted by both oncology and inflammatory diseases.
During the fourth quarter of 2022, Swiss National Bank increased its holdings in RAPT Therapeutics by 23.1%. As per its most recent filing with the Securities and Exchange Commission (SEC), it was revealed that the bank now owns 69,200 shares in total – an additional purchase of 13,000 shares during that period. This move has catapulted Swiss National Bank’s ownership to 0.23% of RAPT Therapeutics valued at $1,370,000.
Despite being founded only seven years ago back in 2015, this San Francisco-based clinical stage company has earned impressive market capitalization figures – currently standing at $699.02 million with shares on NASDAQ opening at $20.35 on May 29th, 2023.
It is interesting to note that RAPT Therapeutics experienced fluctuations within their share prices throughout the last year with a low of $12.85 and high of $32.45 over a span of 52 weeks. Nevertheless, they have not let temporary setbacks bring them down as they seek to provide innovative solutions for patients struggling with complex diseases.
RAPT’s dedication towards immunology-based biopharmaceuticals is reflective of their desire to develop novel treatments that will meet unmet clinical needs – particularly within cancer treatment and inflammation control. The fifty-day moving average stands at $18.66 while the two-hundred day moving average rests at $21.66 amidst an environment where advancements in science and technology continue to push boundaries every day.
It is promising for investors and consumers alike that there are institutions such as Swiss National Bank who aim to support companies such as RAPT Therapeutics that are devoted to enhancing and transforming the medical industry. As research and development progresses in the field of medical innovation, it is hoped we see numerous breakthroughs that make a genuine difference.
[bs_slider_forecast=”RAPT”]
RAPT Therapeutics Sees Increase in Hedge Fund Stakes and Promising Future
RAPT Therapeutics Inc., a clinical stage immunology-based biopharmaceutical firm headquartered in South San Francisco, Calif., has had several hedge funds increase their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in RAPT Therapeutics by 9.1% during the 2nd quarter, owning now 4,334,683 shares of the company’s stock valued at $79,108,000 after purchasing an additional 359,978 shares during this period. BlackRock Inc. increased its holdings by 0.3% while State Street Corp rose by 8.3%, and Vanguard Group Inc. boosted its position by 1.5% while Alphabet Inc purchased a new position in RAPT Therapeutics this past third quarter for about $12,999,000.
Several equities research analysts have issued reports on RAPT Therapeutics with eight investment analysts giving the stock a buy rating and Bloomberg.com reporting that it has a consensus rating of “Buy” along with an average price target of $41.22.
RAPT Therapeutics operates as a clinical stage immunology-based biopharmaceutical company working to discover, develop and commercialize oral small molecule therapies for patients experiencing oncology and inflammatory diseases since its founding in 2015.
RAPT Therapeutics (NASDAQ:RAPT) last announced its quarterly earnings results on Tuesday, March 14th wherein it reported ($0.64) earnings per share (EPS) beating a consensus estimate of ($0.67) by $0.03 and predicts that it will post -3.18 earnings per share for this year.
Insiders William Ho and Wendye Robbins also made transactions relating to the stock in March earlier this year as Ho sold through the transaction of business stock worth $148,100 while Robbins bought up to 2,500 shares worth $47,475 respectively.
Overall RAPT Therapeutics’ future looks promising following the stockholder increase and earnings report; thus, the company could continue to thrive in the biopharmaceutical industry.
