Leerink Partnrs Has Positive Outlook of RAPT FY2024 Earnings

RAPT Therapeutics, Inc. (NASDAQ:RAPT) – Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for RAPT Therapeutics in a research note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now forecasts that the company will post earnings of ($2.39) per share for the year, up from their previous estimate of ($2.72). The consensus estimate for RAPT Therapeutics’ current full-year earnings is ($2.85) per share. Leerink Partnrs also issued estimates for RAPT Therapeutics’ Q4 2024 earnings at ($0.41) EPS, FY2025 earnings at ($1.47) EPS, FY2026 earnings at ($1.39) EPS, FY2027 earnings at ($1.13) EPS and FY2028 earnings at ($1.29) EPS.

Several other analysts have also issued reports on RAPT. HC Wainwright restated a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday, November 12th. Piper Sandler downgraded RAPT Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $8.00 to $2.00 in a research report on Monday, November 11th. UBS Group reduced their target price on RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Wells Fargo & Company lowered their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.00 price target (down previously from $7.00) on shares of RAPT Therapeutics in a report on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

RAPT Therapeutics Trading Down 13.7 %

RAPT Therapeutics stock opened at $1.11 on Friday. The firm’s fifty day moving average price is $1.93 and its two-hundred day moving average price is $2.96. The firm has a market capitalization of $38.56 million, a price-to-earnings ratio of -0.40 and a beta of 0.33. RAPT Therapeutics has a 1-year low of $1.03 and a 1-year high of $27.35.

RAPT Therapeutics (NASDAQ:RAPT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.09.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Readystate Asset Management LP bought a new position in shares of RAPT Therapeutics during the 3rd quarter valued at $36,000. Barclays PLC lifted its stake in shares of RAPT Therapeutics by 277.2% in the 3rd quarter. Barclays PLC now owns 39,729 shares of the company’s stock valued at $79,000 after acquiring an additional 29,195 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in RAPT Therapeutics during the 1st quarter valued at about $97,000. XTX Topco Ltd bought a new position in RAPT Therapeutics during the 2nd quarter worth approximately $108,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in RAPT Therapeutics by 8.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock worth $148,000 after purchasing an additional 3,824 shares during the period. 99.09% of the stock is owned by hedge funds and other institutional investors.

About RAPT Therapeutics

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the United States. The company's lead inflammation drug candidate is zelnecirnon (RPT193), a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.