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

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

Rapt Therapeutics Trading Down 0.6%

Rapt Therapeutics stock traded down $0.18 during midday trading on Friday, hitting $28.86. The stock had a trading volume of 300,521 shares, compared to its average volume of 710,168. Rapt Therapeutics has a 52-week low of $5.67 and a 52-week high of $42.39. The company has a market capitalization of $477.34 million, a PE ratio of -2.61 and a beta of 0.20. The firm’s fifty day moving average is $24.28 and its two-hundred day moving average is $14.31.

Institutional Trading of Rapt Therapeutics

A hedge fund recently raised its stake in Rapt Therapeutics stock. Invesco Ltd. boosted its holdings in shares of Rapt Therapeutics (NASDAQ:RAPT) by 411.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,901 shares of the company’s stock after purchasing an additional 47,391 shares during the quarter. Invesco Ltd.’s holdings in Rapt Therapeutics were worth $72,000 at the end of the most recent quarter. 99.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on RAPT shares. Leerink Partnrs raised Rapt Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. UBS Group set a $9.00 price objective on shares of Rapt Therapeutics and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. HC Wainwright boosted their target price on shares of Rapt Therapeutics from $27.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Wall Street Zen raised shares of Rapt Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Lifesci Capital upgraded shares of Rapt Therapeutics to a “strong-buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.40.

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.