FY2024 Earnings Forecast for RAPT Issued By Leerink Partnrs

RAPT Therapeutics, Inc. (NASDAQ:RAPT) – Research analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for shares of RAPT Therapeutics in a research note issued on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now expects 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.

Several other analysts also recently issued reports on RAPT. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.00 price objective (down from $7.00) on shares of RAPT Therapeutics in a report on Wednesday. JPMorgan Chase & Co. downgraded RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Wells Fargo & Company cut their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday. Piper Sandler lowered RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $2.00 in a report on Monday, November 11th. Finally, HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a report on Tuesday. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.50.

RAPT Therapeutics Stock Down 13.7 %

Shares of RAPT stock opened at $1.11 on Friday. RAPT Therapeutics has a 12 month low of $1.03 and a 12 month high of $27.35. The company has a market cap of $38.56 million, a PE ratio of -0.40 and a beta of 0.33. The business’s 50 day moving average is $1.95 and its two-hundred day moving average is $3.04.

Institutional Investors Weigh In On RAPT Therapeutics

A number of institutional investors have recently bought and sold shares of RAPT. Readystate Asset Management LP acquired a new position in shares of RAPT Therapeutics in the 3rd quarter worth approximately $36,000. Barclays PLC raised its stake in RAPT Therapeutics by 277.2% during the third quarter. Barclays PLC now owns 39,729 shares of the company’s stock worth $79,000 after acquiring an additional 29,195 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of RAPT Therapeutics during the first quarter valued at $97,000. XTX Topco Ltd acquired a new stake in shares of RAPT Therapeutics in the 2nd quarter valued at $108,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.

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.