Rapport Therapeutics (NASDAQ:RAPP) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Rapport Therapeutics (NASDAQ:RAPP) from a sell rating to a hold rating in a research report sent to investors on Sunday.

A number of other analysts have also recently weighed in on RAPP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday. Wells Fargo & Company set a $51.00 price objective on Rapport Therapeutics in a research note on Friday, December 19th. BTIG Research reaffirmed a “buy” rating and issued a $47.00 target price on shares of Rapport Therapeutics in a research report on Monday, December 8th. HC Wainwright raised their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

Rapport Therapeutics Stock Performance

Rapport Therapeutics stock opened at $26.93 on Friday. Rapport Therapeutics has a 1 year low of $6.43 and a 1 year high of $42.27. The firm’s 50-day moving average is $28.59 and its 200-day moving average is $23.85. The company has a market cap of $1.28 billion, a P/E ratio of -9.94 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.06. As a group, sell-side analysts predict that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Abraham Ceesay sold 5,083 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $26.11, for a total value of $132,717.13. Following the completion of the sale, the chief executive officer directly owned 25,812 shares of the company’s stock, valued at approximately $673,951.32. This represents a 16.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Krishnaswamy Yeleswaram sold 2,840 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $30.05, for a total value of $85,342.00. Following the transaction, the insider directly owned 296,991 shares of the company’s stock, valued at $8,924,579.55. This represents a 0.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 67,655 shares of company stock worth $1,863,705. 13.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapport Therapeutics

A number of large investors have recently made changes to their positions in RAPP. Russell Investments Group Ltd. acquired a new position in Rapport Therapeutics in the 3rd quarter worth approximately $43,000. Strs Ohio raised its stake in Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after purchasing an additional 400 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rapport Therapeutics in the third quarter valued at $143,000. Sandia Investment Management LP purchased a new stake in shares of Rapport Therapeutics in the third quarter valued at $178,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Rapport Therapeutics in the third quarter worth $186,000.

About Rapport Therapeutics

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.