Rapport Therapeutics (NASDAQ:RAPP) Earns “Buy” Rating from BTIG Research

Rapport Therapeutics (NASDAQ:RAPP)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $65.00 target price on the stock. BTIG Research’s price target would indicate a potential upside of 32.63% from the company’s current price.

Several other research firms have also commented on RAPP. UBS Group reissued a “strong-buy” rating on shares of Rapport Therapeutics in a research report on Monday. Truist Financial initiated coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They issued a “buy” rating and a $56.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. HC Wainwright increased their target price on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rapport Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $62.86.

Rapport Therapeutics Trading Up 1.2%

RAPP opened at $49.01 on Wednesday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -16.12 and a beta of 0.97. Rapport Therapeutics has a 12 month low of $13.86 and a 12 month high of $49.50. The stock has a fifty day moving average price of $41.39 and a 200-day moving average price of $35.65.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). On average, equities research analysts forecast that Rapport Therapeutics will post -4.09 EPS for the current year.

Insider Activity

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 6,280,525 shares of the company’s stock, valued at approximately $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Abraham Ceesay sold 28,958 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total value of $1,390,273.58. Following the sale, the chief executive officer owned 486,108 shares in the company, valued at $23,338,045.08. The trade was a 5.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 72,281 shares of company stock worth $3,269,892 over the last ninety days. 12.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $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 purchased a new position in shares of Rapport Therapeutics in the first quarter worth $2,039,000. Rhumbline Advisers lifted its stake in shares of Rapport Therapeutics by 40.1% during the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after buying an additional 4,109 shares during the period. Geode Capital Management LLC lifted its stake in shares of Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock worth $3,789,000 after buying an additional 17,496 shares during the period. Finally, Creative Planning purchased a new stake in shares of Rapport Therapeutics during the second quarter valued at $121,000.

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.