Rapport Therapeutics (NASDAQ:RAPP) Stock Price Down 7.7% – Should You Sell?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s stock price traded down 7.7% during trading on Thursday . The stock traded as low as $28.55 and last traded at $28.1770. 66,910 shares were traded during mid-day trading, a decline of 80% from the average session volume of 339,985 shares. The stock had previously closed at $30.54.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RAPP shares. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Thursday, January 22nd. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Monday. Finally, BTIG Research raised their target price on Rapport Therapeutics to $47.00 and gave the company a “buy” rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.40.

Rapport Therapeutics Stock Down 5.8%

The business’s 50 day moving average is $28.14 and its 200-day moving average is $26.89. The firm has a market cap of $1.37 billion, a P/E ratio of -10.05 and a beta of 1.51.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). As a group, equities analysts predict that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current year.

Insider Transactions at Rapport Therapeutics

In related news, insider David Bredt sold 8,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total value of $246,670.00. Following the completion of the sale, the insider directly owned 387,075 shares of the company’s stock, valued at $11,232,916.50. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Abraham Ceesay sold 5,833 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $29.34, for a total value of $171,140.22. Following the sale, the chief executive officer owned 556,247 shares in the company, valued at $16,320,286.98. The trade was a 1.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 69,669 shares of company stock valued at $1,999,877 over the last quarter. Insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several large investors have recently added to or reduced their stakes in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Rapport Therapeutics by 86.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after purchasing an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Rapport Therapeutics in the 1st quarter valued at about $2,039,000. Rhumbline Advisers boosted its holdings in shares of Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after buying an additional 4,109 shares during the period. Geode Capital Management LLC grew its position in shares of Rapport Therapeutics by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after buying an additional 17,496 shares during the last quarter. Finally, Creative Planning acquired a new stake in Rapport Therapeutics during the second quarter worth about $121,000.

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.