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

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $58.8333.

RAPP has been the subject of a number of research reports. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Wells Fargo & Company boosted their price objective on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Raymond James Financial initiated coverage on Rapport Therapeutics in a research note on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective for the company.

Rapport Therapeutics Stock Performance

Shares of Rapport Therapeutics stock opened at $39.50 on Friday. Rapport Therapeutics has a one year low of $7.73 and a one year high of $42.27. The company has a market cap of $1.89 billion, a PE ratio of -15.19 and a beta of 0.82. The business has a 50-day simple moving average of $34.86 and a 200-day simple moving average of $30.58.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. On average, sell-side analysts predict that Rapport Therapeutics will post -3.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the transaction, the insider owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the transaction, the insider owned 246,426 shares of the company’s stock, valued at $9,854,575.74. The trade was a 7.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 897,172 shares of company stock worth $35,967,206. 13.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 acquiring an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Rapport Therapeutics in the 1st quarter worth about $2,039,000. Rhumbline Advisers raised 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 worth $144,000 after purchasing an additional 4,109 shares during the period. Geode Capital Management LLC raised its holdings in shares of Rapport Therapeutics by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock worth $3,789,000 after purchasing an additional 17,496 shares during the period. Finally, Creative Planning purchased a new position in shares of Rapport Therapeutics in the 2nd 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.