HC Wainwright Research Analysts Lower Earnings Estimates for RAPT Therapeutics, Inc. (NASDAQ:RAPT)

RAPT Therapeutics, Inc. (NASDAQ:RAPT) – Stock analysts at HC Wainwright dropped their FY2023 earnings per share estimates for shares of RAPT Therapeutics in a research note issued on Wednesday, November 15th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($3.05) per share for the year, down from their previous estimate of ($2.99). HC Wainwright has a “Buy” rating and a $41.00 price objective on the stock. The consensus estimate for RAPT Therapeutics’ current full-year earnings is ($2.99) per share. HC Wainwright also issued estimates for RAPT Therapeutics’ Q4 2023 earnings at ($0.81) EPS, Q1 2024 earnings at ($0.82) EPS, Q2 2024 earnings at ($0.81) EPS, Q3 2024 earnings at ($0.79) EPS, Q4 2024 earnings at ($0.80) EPS and FY2024 earnings at ($3.22) EPS.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on RAPT Therapeutics from $39.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 16th. Piper Sandler boosted their price objective on RAPT Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. Berenberg Bank initiated coverage on RAPT Therapeutics in a report on Thursday, September 14th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on RAPT Therapeutics in a report on Tuesday, August 8th. They issued a “buy” rating and a $40.00 target price for the company. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $37.20.

RAPT Therapeutics Price Performance

Shares of NASDAQ:RAPT opened at $14.14 on Friday. The company has a market capitalization of $486.42 million, a price-to-earnings ratio of -4.91 and a beta of 0.51. The business’s 50-day moving average is $14.63 and its 200-day moving average is $18.57. RAPT Therapeutics has a 1 year low of $10.47 and a 1 year high of $31.45.

Insider Activity

In related news, insider William Ho sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $15.77, for a total value of $39,425.00. Following the sale, the insider now directly owns 18,789 shares of the company’s stock, valued at $296,302.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.50% of the company’s stock.

Institutional Trading of RAPT Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in RAPT Therapeutics by 46.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,994 shares of the company’s stock worth $56,000 after acquiring an additional 953 shares during the last quarter. Royal Bank of Canada grew its position in RAPT Therapeutics by 87.8% in the 2nd quarter. Royal Bank of Canada now owns 3,164 shares of the company’s stock worth $59,000 after purchasing an additional 1,479 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in RAPT Therapeutics by 683.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,083 shares of the company’s stock worth $93,000 after purchasing an additional 4,434 shares during the period. Quantbot Technologies LP bought a new stake in shares of RAPT Therapeutics during the 2nd quarter valued at $107,000. Finally, Fred Alger Management LLC bought a new stake in shares of RAPT Therapeutics during the 4th quarter valued at $122,000. 99.09% of the stock is currently 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. Its lead inflammation drug candidate is RPT193, a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.