FY2024 Earnings Forecast for RAPT Issued By Leerink Partnrs

RAPT Therapeutics, Inc. (NASDAQ:RAPT) – Stock analysts at Leerink Partnrs reduced their FY2024 earnings per share estimates for shares of RAPT Therapeutics in a report issued 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 estimate of ($2.52). 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 ($0.58) 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.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a report on Tuesday. 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. Stifel Nicolaus reiterated a “hold” rating and set a $2.00 target price (down from $7.00) on shares of RAPT Therapeutics in a report on Wednesday. Finally, Piper Sandler cut shares of RAPT Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $2.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, RAPT Therapeutics currently has a consensus rating of “Hold” and an average target price of $9.50.

RAPT Therapeutics Stock Down 13.7 %

RAPT stock opened at $1.11 on Thursday. RAPT Therapeutics has a twelve month low of $1.03 and a twelve month high of $27.35. The firm has a market cap of $38.56 million, a price-to-earnings ratio of -0.40 and a beta of 0.33. The business’s fifty day simple moving average is $1.95 and its two-hundred day simple moving average is $3.04.

Hedge Funds Weigh In On RAPT Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised 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 worth $148,000 after buying an additional 3,824 shares during the last quarter. Acadian Asset Management LLC purchased a new position in RAPT Therapeutics in the 1st quarter worth $97,000. EntryPoint Capital LLC acquired a new stake in RAPT Therapeutics during the 1st quarter worth about $161,000. Readystate Asset Management LP purchased a new stake in RAPT Therapeutics during the 3rd quarter valued at about $36,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of RAPT Therapeutics by 24.0% in the second quarter. Bank of New York Mellon Corp now owns 114,590 shares of the company’s stock valued at $349,000 after purchasing an additional 22,175 shares during the period. 99.09% of the stock is owned by hedge funds and other 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.