Leerink Partnrs Issues Optimistic Forecast for RAPT Earnings

RAPT Therapeutics, Inc. (NASDAQ:RAPT - Free Report) - Analysts at Leerink Partnrs upped their FY2024 earnings estimates for RAPT Therapeutics in a report issued on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now forecasts that the company will post earnings per share of ($2.39) for the year, up from their prior 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.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of RAPT Therapeutics from a "neutral" rating to an "underweight" rating in a report on Monday. HC Wainwright restated a "neutral" rating on shares of RAPT Therapeutics in a report on Tuesday. Stifel Nicolaus restated a "hold" rating and issued a $2.00 price objective (down from $7.00) on shares of RAPT Therapeutics in a report on Wednesday. UBS Group lowered their price objective on shares of RAPT Therapeutics from $10.00 to $2.00 and set a "neutral" rating for the company in a report on Monday, September 9th. Finally, Piper Sandler lowered shares of RAPT Therapeutics from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $8.00 to $2.00 in a report on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, RAPT Therapeutics currently has an average rating of "Hold" and an average target price of $13.00.

RAPT Therapeutics Stock Performance

RAPT Therapeutics stock traded down $0.18 during mid-day trading on Friday, hitting $1.11. 993,593 shares of the company traded hands, compared to its average volume of 761,078. RAPT Therapeutics has a one year low of $1.03 and a one year high of $27.35. The stock has a market cap of $38.56 million, a price-to-earnings ratio of -0.40 and a beta of 0.33. The stock has a fifty day moving average price of $1.95 and a 200-day moving average price of $3.04.

Institutional Investors Weigh In On RAPT Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. increased its holdings 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 acquiring an additional 3,824 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in RAPT Therapeutics in the 1st quarter worth approximately $97,000. EntryPoint Capital LLC purchased a new stake in RAPT Therapeutics in the 1st quarter worth approximately $161,000. Readystate Asset Management LP purchased a new stake in RAPT Therapeutics in the 3rd quarter worth approximately $36,000. Finally, Bank of New York Mellon Corp increased its holdings in RAPT Therapeutics by 24.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 114,590 shares of the company's stock worth $349,000 after acquiring an additional 22,175 shares in the last quarter. Hedge funds and other institutional investors own 99.09% of the company's stock.

RAPT Therapeutics Company Profile

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.