RAPT Therapeutics (NASDAQ:RAPT) is a biopharmaceutical company based in California, specializing in developing treatments for inflammatory and immunologic diseases. The company is particularly focused on severe food allergies, including those related to nuts, milk, and eggs. RAPT's leading drug, ozureprubart, is a long-acting treatment currently in mid-stage clinical trials in the US.
On January 20, 2026, Yanan Zhu from Wells Fargo set a price target of $58 for RAPT Therapeutics (NASDAQ:RAPT). At that time, the stock was trading at $57.50, showing a slight difference of approximately 0.87% from the target price. This target was set amidst significant developments for the company, including a major acquisition announcement.
RAPT's shares surged by 64% to reach $57 following the news of its acquisition by GSK, a major British drugmaker. The acquisition deal is valued at approximately $2.2 billion, with GSK agreeing to pay $58.00 per share. This acquisition provides GSK access to RAPT's promising food allergy treatment, ozureprubart, which is in phase 2b clinical development.
The acquisition marks the first major deal under GSK's new chief executive, Luke Miels. GSK's investment in RAPT includes an upfront payment of $1.9 billion, net of cash acquired. This strategic move aims to enhance GSK's portfolio with RAPT's innovative therapies, particularly ozureprubart, which targets IgE, a key factor in food allergy reactions.
RAPT's stock is currently trading at $57.56, reflecting a significant increase of 63.97% with a change of $22.46. The stock's price today has ranged from a low of $57.46 to a high of $57.61, marking its highest price in the past year. The company's market capitalization stands at approximately $951.8 million, with a trading volume of 29,635,290 shares.
