Rapport Therapeutics (NASDAQ:RAPP) Raised to “Hold” at Wall Street Zen

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the stock. Citizens Jmp lifted their price target on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. HC Wainwright raised their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Wells Fargo & Company began coverage on Rapport Therapeutics in a research report on Monday, February 2nd. They set an “overweight” rating and a $43.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.80.

Rapport Therapeutics Price Performance

NASDAQ:RAPP opened at $29.03 on Friday. Rapport Therapeutics has a one year low of $6.43 and a one year high of $42.27. The company has a market cap of $1.38 billion, a PE ratio of -10.71 and a beta of 1.50. The firm’s 50 day simple moving average is $28.30 and its 200 day simple moving average is $26.14.

Insider Activity

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $29.34, for a total value of $171,140.22. Following the completion of the sale, the chief executive officer directly owned 556,247 shares in the company, valued at approximately $16,320,286.98. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Bredt sold 8,500 shares of the business’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 completion of the transaction, the insider directly owned 387,075 shares in the company, valued at approximately $11,232,916.50. This trade represents a 2.15% 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 67,655 shares of company stock valued at $1,941,612. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Hedge funds have recently modified their holdings of the stock. Baker BROS. Advisors LP grew its holdings in Rapport Therapeutics by 181.2% in the third 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. Vestal Point Capital LP acquired a new position in shares of Rapport Therapeutics during the third quarter valued at about $28,215,000. Polar Capital Holdings Plc bought a new position in shares of Rapport Therapeutics during the 3rd quarter worth about $27,887,000. Capital International Investors grew its stake in shares of 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 buying an additional 800,000 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Rapport Therapeutics by 265.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock valued at $26,500,000 after buying an additional 648,378 shares in the last quarter.

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.