FY2024 Earnings Forecast for RAPT Issued By Leerink Partnrs

RAPT Therapeutics, Inc. (NASDAQ:RAPT) – Investment analysts at Leerink Partnrs decreased their FY2024 earnings per share (EPS) estimates for RAPT Therapeutics in a report released on Monday, November 11th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($2.72) 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.

Several other research firms have also issued reports on RAPT. HC Wainwright reissued a “neutral” rating on shares of RAPT Therapeutics in a research note on Tuesday. 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. Stifel Nicolaus restated a “hold” rating and set a $2.00 target price (down from $7.00) on shares of RAPT Therapeutics in a report on Wednesday. JPMorgan Chase & Co. lowered RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday. Finally, Wells Fargo & Company lowered their price target on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday. One 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.00.

RAPT Therapeutics Stock Down 9.8 %

Shares of NASDAQ RAPT opened at $1.57 on Thursday. The business has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $3.05. RAPT Therapeutics has a 52 week low of $1.31 and a 52 week high of $27.35. The company has a market cap of $54.79 million, a P/E ratio of -0.57 and a beta of 0.33.

Institutional Investors Weigh In On RAPT Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of RAPT Therapeutics in the first quarter valued at $97,000. XTX Topco Ltd purchased a new position in RAPT Therapeutics in the 2nd quarter worth about $108,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of RAPT Therapeutics by 8.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,525 shares of the company’s stock valued at $148,000 after purchasing an additional 3,824 shares during the period. 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 RAPT Therapeutics by 244.7% in the third quarter. Exchange Traded Concepts LLC now owns 89,076 shares of the company’s stock worth $179,000 after acquiring an additional 63,235 shares during the period. 99.09% of the stock is owned by hedge funds and other institutional investors.

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.