Leerink Partnrs Has Negative Outlook of RAPT FY2024 Earnings

RAPT Therapeutics, Inc. (NASDAQ:RAPT) – Research analysts at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for RAPT Therapeutics in a 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 prior 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.

A number of other research firms have also recently issued reports on RAPT. UBS Group reduced their target price on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Wells Fargo & Company reduced their price objective on shares of RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday. Stifel Nicolaus reiterated a “hold” rating and issued a $2.00 price objective (down from $7.00) on shares of RAPT Therapeutics in a report on Wednesday. Piper Sandler lowered RAPT Therapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the company from $8.00 to $2.00 in a report on Monday. Finally, JPMorgan Chase & Co. downgraded RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, RAPT Therapeutics currently has an average rating of “Hold” and an average price target of $13.00.

RAPT Therapeutics Price Performance

Shares of RAPT Therapeutics stock opened at $1.28 on Thursday. The firm has a market cap of $44.68 million, a price-to-earnings ratio of -0.48 and a beta of 0.33. The stock has a 50-day simple moving average of $1.96 and a 200-day simple moving average of $3.05. RAPT Therapeutics has a 52-week low of $1.25 and a 52-week high of $27.35.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of RAPT Therapeutics in the first quarter worth $97,000. XTX Topco Ltd bought a new position in shares of RAPT Therapeutics during the 2nd quarter worth about $108,000. Hennion & Walsh Asset Management Inc. raised its position in shares of RAPT Therapeutics by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock valued at $148,000 after buying an additional 3,824 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of RAPT Therapeutics in the first quarter valued at about $161,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of RAPT Therapeutics by 244.7% in the third quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock valued at $179,000 after buying an additional 63,235 shares during the period. 99.09% of the stock is 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.