Rapport Therapeutics (NASDAQ:RAPP) Earns Outperform Rating from Analysts at William Blair

William Blair assumed coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a report published on Tuesday, Marketbeat reports. The firm issued an outperform rating on the stock.

A number of other analysts also recently weighed in on RAPP. Raymond James Financial began coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price target for the company. BTIG Research restated a “buy” rating and set a $65.00 price objective on shares of Rapport Therapeutics in a research report on Thursday, July 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Leerink Partners started coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.86.

Rapport Therapeutics Stock Up 4.5%

RAPP stock opened at $42.78 on Tuesday. Rapport Therapeutics has a 52 week low of $13.62 and a 52 week high of $44.28. The business has a 50-day simple moving average of $39.28 and a 200 day simple moving average of $33.93. The company has a market cap of $2.05 billion, a PE ratio of -16.45 and a beta of 0.94.

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, topping analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. On average, analysts anticipate that Rapport Therapeutics will post -3.26 EPS for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Abraham Ceesay sold 2,210 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $42.11, for a total transaction of $93,063.10. Following the sale, the chief executive officer owned 537,607 shares of the company’s stock, valued at approximately $22,638,630.77. This trade represents a 0.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 430,913 shares of company stock worth $17,308,315. 12.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV acquired a new stake in Rapport Therapeutics during the first quarter worth approximately $30,000. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics in the fourth quarter worth approximately $37,000. Russell Investments Group Ltd. acquired a new position in Rapport Therapeutics in the third quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after buying an additional 905 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 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.