FY2024 Earnings Estimate for RAPT Issued By Leerink Partnrs

RAPT Therapeutics, Inc. (NASDAQ:RAPT) – Equities researchers at Leerink Partnrs boosted their FY2024 EPS estimates for shares of RAPT Therapeutics in a research report issued on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now anticipates that the company will earn ($2.39) per share 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 brokerages have also weighed in on RAPT. Stifel Nicolaus reissued a “hold” rating and issued a $2.00 price objective (down previously from $7.00) on shares of RAPT Therapeutics in a report on Wednesday. JPMorgan Chase & Co. lowered shares of RAPT Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday. 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. HC Wainwright reiterated a “neutral” rating on shares of RAPT Therapeutics in a research report on Tuesday. Finally, Wells Fargo & Company dropped their price objective on RAPT Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday. One 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.00.

RAPT Therapeutics Stock Down 18.5 %

NASDAQ:RAPT opened at $1.28 on Friday. RAPT Therapeutics has a 12 month low of $1.25 and a 12 month high of $27.35. The firm’s 50 day moving average is $1.96 and its 200 day moving average is $3.05.

Institutional Trading of RAPT Therapeutics

A number of large investors have recently modified their holdings of RAPT. Vanguard Group Inc. raised its stake in RAPT Therapeutics by 21.2% in the first quarter. Vanguard Group Inc. now owns 2,492,850 shares of the company’s stock valued at $22,386,000 after purchasing an additional 436,629 shares in the last quarter. Kingdon Capital Management L.L.C. raised its position in shares of RAPT Therapeutics by 55.3% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 1,500,000 shares of the company’s stock valued at $13,470,000 after buying an additional 534,172 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of RAPT Therapeutics by 188.7% during the 2nd quarter. Federated Hermes Inc. now owns 796,080 shares of the company’s stock worth $2,428,000 after acquiring an additional 520,368 shares during the last quarter. Point72 Asset Management L.P. grew its position in RAPT Therapeutics by 176,725.0% in the second quarter. Point72 Asset Management L.P. now owns 707,300 shares of the company’s stock worth $2,157,000 after acquiring an additional 706,900 shares in the last quarter. Finally, Redmile Group LLC increased its stake in RAPT Therapeutics by 80.6% in the first quarter. Redmile Group LLC now owns 662,398 shares of the company’s stock valued at $5,948,000 after acquiring an additional 295,622 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.

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.