Rapt Therapeutics shares ‘exceptionally compelling,’ says Clear Street

Clear Street views the shares of Rapt Therapeutics (RAPT) as “exceptionally compelling” following the company’s Q3 report. The company achieved a “major milestone with compelling” Phase 2 chronic spontaneous urticaria data from its Chinese partner, Shanghai Jeyou Pharmaceutical, the analyst tells investors in a research note. The firm believes ozureprubart “stands out” with quarterly dosing, which is triple the convenience compared to Xolair’s monthly regimen. Clear says Rapt shares are little changed spite this “significant de-risking event” and its financing overhang being eliminated. The firm keeps a Buy rating on shares with a $60 price target