Barclays Downgrades RAPT Therapeutics to Equal-Weight, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Leon Wang downgraded RAPT Therapeutics (NASDAQ:RAPT) from Overweight to Equal-Weight and reduced the price target from $13 to $4.
May 10, 2024 | 1:21 pm
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Barclays downgraded RAPT Therapeutics to Equal-Weight from Overweight and significantly lowered the price target from $13 to $4, indicating a bearish outlook on the stock.
The downgrade by a major financial institution like Barclays, accompanied by a drastic reduction in the price target, is likely to negatively impact investor sentiment and the stock price of RAPT Therapeutics in the short term. Such a significant adjustment suggests a change in the company's valuation and future earnings potential as perceived by the analyst.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100