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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $58.8333.

A number of brokerages have recently weighed in on RAPP. Raymond James Financial started coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price target on the stock. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company lifted their price target on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd.

Rapport Therapeutics Trading Down 4.2%

Shares of NASDAQ RAPP opened at $36.87 on Thursday. The firm has a market capitalization of $1.76 billion, a PE ratio of -14.18 and a beta of 0.97. Rapport Therapeutics has a 1 year low of $10.51 and a 1 year high of $42.27. The firm’s 50-day moving average is $36.68 and its 200-day moving average is $31.54.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. As a group, equities research analysts anticipate that Rapport Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the sale, the insider directly owned 246,426 shares in the company, valued at approximately $9,854,575.74. This trade represents a 7.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the sale, the insider owned 6,709,228 shares in the company, valued at $270,516,072.96. This trade represents a 5.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 895,158 shares of company stock valued at $35,908,941. Insiders own 12.48% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Hedge funds have recently bought and sold shares of the stock. Capital International Investors lifted its position in Rapport Therapeutics by 30.7% in the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after acquiring an additional 800,000 shares in the last quarter. Maven Securities LTD acquired a new position in Rapport Therapeutics in the 3rd quarter worth $594,000. Swedbank AB acquired a new position in Rapport Therapeutics in the 4th quarter worth $3,434,000. Baker BROS. Advisors LP boosted its stake in Rapport Therapeutics by 181.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after purchasing an additional 997,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Rapport Therapeutics by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after purchasing an additional 191,219 shares during the period.

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.