Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives Average Rating of “Moderate Buy” from Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $58.8333.

A number of analysts have weighed in on the stock. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial assumed coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They issued a “buy” rating and a $56.00 target price on the stock. Finally, BTIG Research raised their target price on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the sale, the insider owned 246,426 shares in the company, valued at $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Rock Ventures V. L.P. Third sold 133,618 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $40.24, for a total transaction of $5,376,788.32. Following the completion of the sale, the insider owned 6,299,097 shares in the company, valued at $253,475,663.28. This represents a 2.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 878,600 shares of company stock worth $35,223,398 over the last quarter. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors lifted its holdings 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 purchasing an additional 800,000 shares during the period. Maven Securities LTD bought a new stake in shares of Rapport Therapeutics in the third quarter worth $594,000. Swedbank AB bought a new stake in shares of Rapport Therapeutics in the fourth quarter worth $3,434,000. Baker BROS. Advisors LP grew its stake 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 worth $45,949,000 after purchasing an additional 997,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Rapport Therapeutics by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after purchasing an additional 191,219 shares during the last quarter.

Rapport Therapeutics Price Performance

Shares of NASDAQ:RAPP opened at $37.72 on Friday. The company’s 50 day simple moving average is $33.71 and its 200 day simple moving average is $30.12. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -14.51 and a beta of 0.82. Rapport Therapeutics has a 1 year low of $7.73 and a 1 year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. As a group, analysts anticipate that Rapport Therapeutics will post -3.08 EPS for the current fiscal year.

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.