Rapport Therapeutics (NASDAQ:RAPP) Trading Up 7.8% – Time to Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s share price traded up 7.8% during trading on Wednesday . The stock traded as high as $30.12 and last traded at $29.8250. 102,254 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 265,211 shares. The stock had previously closed at $27.66.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RAPP. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Thursday. Truist Financial initiated coverage on shares of Rapport Therapeutics in a report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. Wells Fargo & Company set a $51.00 target price on shares of Rapport Therapeutics in a research report on Friday, December 19th. Finally, Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

Rapport Therapeutics Stock Up 2.3%

The stock has a market cap of $1.38 billion, a P/E ratio of -10.69 and a beta of 1.63. The firm has a 50 day moving average price of $28.31 and a 200 day moving average price of $22.52.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.06. Equities analysts predict that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Krishnaswamy Yeleswaram sold 2,840 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $30.05, for a total transaction of $85,342.00. Following the completion of the transaction, the insider directly owned 296,991 shares of the company’s stock, valued at approximately $8,924,579.55. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Bredt sold 6,567 shares of Rapport Therapeutics stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $30.05, for a total transaction of $197,338.35. Following the completion of the sale, the insider owned 404,075 shares in the company, valued at approximately $12,142,453.75. This represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,655 shares of company stock worth $1,851,447 over the last quarter. Insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently made changes to their positions in the company. Capital International Investors boosted its stake in Rapport Therapeutics by 30.7% during the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after buying an additional 800,000 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Rapport Therapeutics by 46.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,626,538 shares of the company’s stock valued at $48,308,000 after acquiring an additional 519,047 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in shares of Rapport Therapeutics by 181.2% in the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after purchasing an additional 997,000 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Rapport Therapeutics by 4.1% in the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock valued at $13,129,000 after purchasing an additional 45,063 shares in the last quarter. Finally, Vestal Point Capital LP bought a new stake in Rapport Therapeutics in the third quarter worth $28,215,000.

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.