Rapt Therapeutics (NASDAQ:RAPT) Releases Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Rapt Therapeutics (NASDAQ:RAPT) issued its quarterly earnings data on Thursday. The company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.23, Zacks reports.

Rapt Therapeutics Stock Performance

Shares of NASDAQ:RAPT traded down $0.18 during trading on Friday, hitting $28.86. 300,521 shares of the stock were exchanged, compared to its average volume of 710,168. The company has a market capitalization of $477.34 million, a price-to-earnings ratio of -2.61 and a beta of 0.20. Rapt Therapeutics has a 1-year low of $5.67 and a 1-year high of $42.39. The company’s fifty day simple moving average is $24.28 and its 200-day simple moving average is $14.31.

Analyst Ratings Changes

Several analysts have recently issued reports on RAPT shares. Wells Fargo & Company set a $72.00 price target on Rapt Therapeutics and gave the stock an “overweight” rating in a research note on Monday. Lifesci Capital raised Rapt Therapeutics to a “strong-buy” rating and set a $31.00 target price for the company in a research report on Tuesday, July 22nd. UBS Group set a $9.00 price target on Rapt Therapeutics and gave the company a “neutral” rating in a report on Tuesday, August 12th. Zacks Research cut shares of Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, HC Wainwright raised their target price on shares of Rapt Therapeutics from $27.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.40.

Institutional Investors Weigh In On Rapt Therapeutics

An institutional investor recently bought a new position in Rapt Therapeutics stock. AQR Capital Management LLC acquired a new stake in Rapt Therapeutics (NASDAQ:RAPT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 154,327 shares of the company’s stock, valued at approximately $188,000. AQR Capital Management LLC owned approximately 0.12% of Rapt Therapeutics as of its most recent filing with the SEC. Institutional investors and hedge funds 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.