Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $57.8571.

Several equities analysts have commented on RAPP shares. Truist Financial assumed coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. BTIG Research reiterated a “buy” rating and issued a $65.00 target price on shares of Rapport Therapeutics in a report on Wednesday. Leerink Partners began coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price for the company. Finally, Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd.

Insider Transactions at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 133,618 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $40.24, for a total transaction of $5,376,788.32. Following the sale, the insider directly owned 6,299,097 shares in the company, valued at approximately $253,475,663.28. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Abraham Ceesay sold 2,210 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $42.11, for a total transaction of $93,063.10. Following the completion of the sale, the chief executive officer directly owned 537,607 shares in the company, valued at approximately $22,638,630.77. This trade represents a 0.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 154,400 shares of company stock valued at $6,213,660. Corporate insiders own 12.48% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in shares of Rapport Therapeutics by 23.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock worth $91,077,000 after purchasing an additional 579,903 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Rapport Therapeutics by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after buying an additional 191,219 shares during the last quarter. Johnson & Johnson acquired a new position in shares of Rapport Therapeutics during the 2nd quarter worth about $74,360,823,000. Alliancebernstein L.P. boosted its position in shares of Rapport Therapeutics by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock worth $13,129,000 after acquiring an additional 45,063 shares in the last quarter. Finally, Vestal Point Capital LP increased its holdings in shares of Rapport Therapeutics by 16.8% in the 4th quarter. Vestal Point Capital LP now owns 1,110,000 shares of the company’s stock valued at $33,677,000 after acquiring an additional 160,000 shares during the last quarter.

Rapport Therapeutics Stock Performance

NASDAQ RAPP opened at $46.35 on Friday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -15.25 and a beta of 0.97. The firm has a 50 day simple moving average of $39.65 and a 200-day simple moving average of $34.48. Rapport Therapeutics has a one year low of $13.62 and a one year high of $46.72.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Equities analysts predict that Rapport Therapeutics will post -3.26 EPS for the current fiscal year.

Rapport Therapeutics Company Profile

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for patients with cancer. The company leverages a proprietary discovery engine to identify novel tumor-associated antigens and develop tailored biologic and small-molecule candidates designed to modulate key oncogenic pathways. With a pipeline comprising multiple preclinical and early clinical assets, Rapport is committed to advancing precision medicine approaches and addressing unmet needs in oncology.

Rapport’s discovery engine combines high-throughput screening, molecular profiling and in vivo validation to accelerate the progression of lead candidates from the laboratory to clinical evaluation.