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

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

Rapt Therapeutics Stock Performance

Shares of NASDAQ:RAPT traded down $0.18 during midday trading on Friday, hitting $28.86. 300,521 shares of the company’s stock traded hands, compared to its average volume of 710,168. Rapt Therapeutics has a twelve month low of $5.67 and a twelve month high of $42.39. The company has a market cap of $477.34 million, a PE ratio of -2.61 and a beta of 0.20. The firm’s fifty day moving average price is $24.28 and its two-hundred day moving average price is $14.31.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RAPT shares. Zacks Research lowered Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. UBS Group set a $9.00 target price on shares of Rapt Therapeutics and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. Wall Street Zen raised Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Lifesci Capital upgraded Rapt Therapeutics to a “strong-buy” rating and set a $31.00 price target on the stock in a research report on Tuesday, July 22nd. Finally, Leerink Partners raised shares of Rapt Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $16.00 to $37.00 in a report on Friday, September 26th. 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 target price 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 purchased a new position in shares of Rapt Therapeutics (NASDAQ:RAPT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 Securities and Exchange Commission. 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.