Leerink Partnrs Has Strong Forecast for RAPT FY2024 Earnings

RAPT Therapeutics, Inc. (NASDAQ:RAPT) – Leerink Partnrs boosted their FY2024 EPS estimates for RAPT Therapeutics in a report released on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($2.39) for the year, up from their prior forecast 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 equities analysts have also issued reports on RAPT. Wells Fargo & Company cut their price target on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday. HC Wainwright restated a “neutral” rating on shares of RAPT Therapeutics in a research report on Tuesday. UBS Group lowered their price target on shares of RAPT Therapeutics from $10.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Piper Sandler lowered shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $2.00 in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.50.

RAPT Therapeutics Stock Performance

Shares of RAPT opened at $1.11 on Friday. The business’s fifty day moving average price is $1.95 and its two-hundred day moving average price is $3.04. The firm has a market capitalization of $38.56 million, a price-to-earnings ratio of -0.40 and a beta of 0.33. RAPT Therapeutics has a 52 week low of $1.03 and a 52 week high of $27.35.

Institutional Trading of RAPT Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Readystate Asset Management LP bought a new position in RAPT Therapeutics in the third quarter valued at approximately $36,000. Barclays PLC increased its position in shares of 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 acquired a new stake in shares of RAPT Therapeutics during the first quarter worth $97,000. XTX Topco Ltd bought a new stake in RAPT Therapeutics in the 2nd quarter valued at $108,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake 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 purchasing an additional 3,824 shares during the period. 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.