Leerink Partnrs Expects Lower Earnings for RAPT Therapeutics

RAPT Therapeutics, Inc. (NASDAQ:RAPT - Free Report) - Research analysts at Leerink Partnrs decreased their FY2024 earnings estimates for shares of RAPT Therapeutics in a research report issued on Monday, November 11th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings of ($2.72) per share for the year, down from their previous forecast of ($2.52). The consensus estimate for RAPT Therapeutics' current full-year earnings is ($2.73) per share. Leerink Partnrs also issued estimates for RAPT Therapeutics' Q4 2024 earnings at ($0.58) EPS, FY2025 earnings at ($1.65) EPS, FY2026 earnings at ($1.54) EPS, FY2027 earnings at ($1.19) EPS and FY2028 earnings at ($1.33) EPS.

Several other analysts also recently issued reports on RAPT. JPMorgan Chase & Co. downgraded shares of RAPT Therapeutics from a "neutral" rating to an "underweight" rating in a research note on Monday. Wells Fargo & Company lowered their price target on shares of RAPT Therapeutics from $17.00 to $4.00 and set an "overweight" rating on the stock in a report on Tuesday. Stifel Nicolaus restated a "hold" rating and set a $2.00 price target (down from $7.00) on shares of RAPT Therapeutics in a report on Wednesday. HC Wainwright restated a "neutral" rating on shares of RAPT Therapeutics in a report on Tuesday. Finally, Piper Sandler cut shares of RAPT Therapeutics from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $8.00 to $2.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.00.

RAPT Therapeutics Trading Down 15.6 %

NASDAQ:RAPT traded down $0.25 during trading hours on Thursday, hitting $1.33. 810,326 shares of the stock traded hands, compared to its average volume of 756,324. The firm has a 50 day moving average price of $1.96 and a 200 day moving average price of $3.05. RAPT Therapeutics has a fifty-two week low of $1.31 and a fifty-two week high of $27.35. The firm has a market cap of $46.25 million, a price-to-earnings ratio of -0.48 and a beta of 0.33.

Institutional Investors Weigh In On RAPT Therapeutics

A number of hedge funds have recently bought and sold shares of RAPT. Point72 Asset Management L.P. raised its position in shares of RAPT Therapeutics by 176,725.0% during the second quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company's stock valued at $2,157,000 after buying an additional 706,900 shares during the last quarter. Kingdon Capital Management L.L.C. raised its position in shares of RAPT Therapeutics by 55.3% during the first quarter. Kingdon Capital Management L.L.C. now owns 1,500,000 shares of the company's stock valued at $13,470,000 after buying an additional 534,172 shares during the last quarter. Federated Hermes Inc. raised its position in shares of RAPT Therapeutics by 188.7% during the second quarter. Federated Hermes Inc. now owns 796,080 shares of the company's stock valued at $2,428,000 after buying an additional 520,368 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of RAPT Therapeutics by 4,183.3% during the second quarter. Acadian Asset Management LLC now owns 467,182 shares of the company's stock valued at $1,424,000 after buying an additional 456,275 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of RAPT Therapeutics by 21.2% during the first quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company's stock valued at $22,386,000 after buying an additional 436,629 shares during the last quarter. 99.09% of the stock is currently owned by 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.