Rapport Therapeutics (NASDAQ:RAPP) Upgraded to “Strong-Buy” at Truist Financial

Truist Financial upgraded shares of Rapport Therapeutics (NASDAQ:RAPP) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

Several other brokerages also recently issued reports on RAPP. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Wall Street Zen cut Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. BTIG Research boosted their price target on Rapport Therapeutics to $47.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, HC Wainwright increased their price target on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rapport Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $51.40.

Rapport Therapeutics Stock Up 2.2%

Shares of NASDAQ:RAPP opened at $28.88 on Wednesday. The company has a market cap of $1.38 billion, a PE ratio of -10.10 and a beta of 1.51. The company’s 50-day moving average price is $28.05 and its 200 day moving average price is $27.72. Rapport Therapeutics has a fifty-two week low of $7.73 and a fifty-two week high of $42.27.

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

Insider Buying and Selling at Rapport Therapeutics

In other news, COO Cheryl Gault sold 2,014 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total transaction of $58,265.02. Following the completion of the sale, the chief operating officer owned 169,914 shares in the company, valued at approximately $4,915,612.02. This represents a 1.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Abraham Ceesay sold 5,833 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.12, for a total value of $152,357.96. Following the sale, the chief executive officer directly owned 562,080 shares of the company’s stock, valued at approximately $14,681,529.60. This represents a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 50,253 shares of company stock worth $1,421,208. 13.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics in the 4th quarter valued at $37,000. Russell Investments Group Ltd. acquired a new stake in Rapport Therapeutics during the 3rd quarter worth about $43,000. Strs Ohio raised its holdings in Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after buying an additional 400 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Rapport Therapeutics by 64.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after buying an additional 905 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Rapport Therapeutics in the third quarter worth about $143,000.

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.