Rapport Therapeutics (NASDAQ:RAPP) Sees Unusually-High Trading Volume – Time to Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) saw unusually-strong trading volume on Friday . Approximately 1,032,133 shares traded hands during trading, an increase of 207% from the previous session’s volume of 335,783 shares.The stock last traded at $40.39 and had previously closed at $39.54.

Wall Street Analyst Weigh In

Several research analysts recently commented on RAPP shares. TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a report on Monday, March 9th. The Goldman Sachs Group restated a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. Wells Fargo & Company lifted their price target on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Finally, Truist Financial upgraded Rapport Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rapport Therapeutics currently has an average rating of “Buy” and a consensus target price of $53.83.

Rapport Therapeutics Trading Up 0.4%

The business’s fifty day moving average price is $30.07 and its 200-day moving average price is $28.49. The company has a market capitalization of $1.90 billion, a P/E ratio of -13.88 and a beta of 1.09.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). As a group, equities research analysts forecast that Rapport Therapeutics, Inc. will post -3.65 EPS for the current year.

Insider Buying and Selling at Rapport Therapeutics

In other news, COO Cheryl Gault sold 2,014 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $28.93, for a total value of $58,265.02. Following the completion of the sale, the chief operating officer owned 169,914 shares of the company’s stock, valued at approximately $4,915,612.02. The trade was a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Abraham Ceesay sold 5,083 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $29.36, for a total value of $149,236.88. Following the sale, the chief executive officer owned 20,729 shares of the company’s stock, valued at $608,603.44. This represents a 19.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 52,571 shares of company stock valued at $1,618,757. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

A number of institutional investors have recently made changes to their positions in RAPP. Capital International Investors grew its holdings in shares of Rapport Therapeutics by 30.7% in the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after purchasing an additional 800,000 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Rapport Therapeutics by 23.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock valued at $91,077,000 after buying an additional 579,903 shares during the last quarter. Vanguard Group Inc. boosted its position in Rapport Therapeutics by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock valued at $55,151,000 after buying an additional 191,219 shares during the period. Baker BROS. Advisors LP boosted its position in Rapport Therapeutics by 181.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after buying an additional 997,000 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Rapport Therapeutics by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock worth $13,129,000 after acquiring an additional 45,063 shares during 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.