Rapport Therapeutics (NASDAQ:RAPP) Announces Earnings Results

Rapport Therapeutics (NASDAQ:RAPP) released its earnings results on Wednesday. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.23), FiscalAI reports.

Rapport Therapeutics Price Performance

Shares of NASDAQ:RAPP traded up $0.24 during trading on Wednesday, reaching $42.44. 209,735 shares of the stock were exchanged, compared to its average volume of 355,275. Rapport Therapeutics has a 1-year low of $13.62 and a 1-year high of $44.28. The stock has a fifty day moving average of $39.52 and a two-hundred day moving average of $34.34. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -16.32 and a beta of 0.97.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Leerink Partners initiated coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price target for the company. Truist Financial started coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. BTIG Research reaffirmed a “buy” rating and set a $65.00 price target on shares of Rapport Therapeutics in a report on Wednesday. Finally, Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 271,495 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $40.12, for a total transaction of $10,892,379.40. Following the completion of the sale, the insider directly owned 6,437,733 shares of the company’s stock, valued at approximately $258,281,847.96. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Abraham Ceesay sold 2,210 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $42.11, for a total value of $93,063.10. Following the completion of the transaction, the chief executive officer owned 537,607 shares in the company, valued at $22,638,630.77. This represents a 0.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 430,913 shares of company stock worth $17,308,315. Corporate insiders own 12.48% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors have recently modified their holdings of RAPP. Invesco Ltd. increased its position in shares of Rapport Therapeutics by 69.1% during the 4th quarter. Invesco Ltd. now owns 267,120 shares of the company’s stock valued at $8,104,000 after purchasing an additional 109,136 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Rapport Therapeutics during the 4th quarter valued at approximately $396,000. Vestal Point Capital LP increased its stake in shares of Rapport Therapeutics by 16.8% during the 4th quarter. Vestal Point Capital LP now owns 1,110,000 shares of the company’s stock worth $33,677,000 after purchasing an additional 160,000 shares during the last quarter. Quadrature Capital Ltd bought a new position in Rapport Therapeutics during the fourth quarter valued at $268,000. Finally, Perceptive Advisors LLC raised its stake in shares of Rapport Therapeutics by 66.8% in the fourth quarter. Perceptive Advisors LLC now owns 673,923 shares of the company’s stock valued at $20,447,000 after buying an additional 270,000 shares during the period.

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.