Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives $47.00 Average Target Price from Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $50.80.

A number of analysts recently issued reports on RAPP shares. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. BTIG Research restated a “buy” rating and issued a $47.00 price objective on shares of Rapport Therapeutics in a research report on Monday, December 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. HC Wainwright raised their price target on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Finally, Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday, January 8th.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $29.99 on Friday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -11.07 and a beta of 1.63. The company’s fifty day simple moving average is $28.34 and its two-hundred day simple moving average is $25.36. Rapport Therapeutics has a 1 year low of $6.43 and a 1 year high of $42.27.

Insider Transactions at Rapport Therapeutics

In related news, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $29.02, for a total value of $246,670.00. Following the sale, the insider directly owned 387,075 shares of the company’s stock, valued at $11,232,916.50. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $29.34, for a total transaction of $171,140.22. Following the sale, the chief executive officer owned 556,247 shares of the company’s stock, valued at approximately $16,320,286.98. The trade was a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 67,655 shares of company stock worth $1,941,612 over the last 90 days. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio grew its position in Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after acquiring an additional 400 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Rapport Therapeutics by 56.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after purchasing an additional 828 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Rapport Therapeutics in the 4th quarter worth about $37,000. Finally, Creative Planning increased its position in shares of Rapport Therapeutics by 12.8% during the 3rd quarter. Creative Planning now owns 11,959 shares of the company’s stock valued at $355,000 after purchasing an additional 1,357 shares during the last quarter.

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.