Piper Sandler analyst Edward Tenthoff downgraded Rapt Therapeutics (RAPT) to Neutral from Overweight with a price target of $2, down from $8, after the company announced it is terminating development of zelnecirnon following recent FDA feedback on resolution of the outstanding clinical hold due to one patient with severe liver injury in the AD study. Rapt continues to develop next generation preclinical CCR4 inhibitors and is continuing to seek a partner for tivumecirnon for NSCLC, the firm noted.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RAPT: