Rapport Therapeutics (NASDAQ:RAPP) Trading Up 8% – Time to Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) shares shot up 8% on Tuesday . The company traded as high as $40.77 and last traded at $41.67. 48,700 shares were traded during trading, a decline of 86% from the average session volume of 344,246 shares. The stock had previously closed at $38.57.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Leerink Partners initiated coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price objective on the stock. Truist Financial assumed coverage on Rapport Therapeutics in a research note on Monday, May 18th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Rapport Therapeutics Price Performance

The stock’s 50-day moving average is $37.42 and its 200-day moving average is $32.40. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -16.12 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.14. The business had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. Analysts predict that Rapport Therapeutics, Inc. will post -3.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the transaction, the insider owned 6,280,525 shares of the company’s stock, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider directly owned 246,426 shares in the company, valued at approximately $9,854,575.74. This represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 895,158 shares of company stock valued at $35,908,941. Company insiders own 12.48% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Baker BROS. Advisors LP lifted its holdings in Rapport Therapeutics by 181.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after buying an additional 997,000 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Rapport Therapeutics during the third quarter valued at about $28,215,000. Polar Capital Holdings Plc purchased a new stake in shares of Rapport Therapeutics during the third quarter worth about $27,887,000. Capital International Investors increased its position in shares of Rapport Therapeutics by 30.7% during the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after acquiring an additional 800,000 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Rapport Therapeutics by 265.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock worth $26,500,000 after acquiring an additional 648,378 shares in 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.