BTIG Research Reaffirms “Buy” Rating for Rapport Therapeutics (NASDAQ:RAPP)

Rapport Therapeutics (NASDAQ:RAPP)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports. They currently have a $65.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 54.73% from the company’s previous close.

A number of other brokerages have also recently weighed in on RAPP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Raymond James Financial started coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price target for the company. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Leerink Partners assumed 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. Finally, Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.86.

Rapport Therapeutics Trading Down 0.5%

Shares of Rapport Therapeutics stock traded down $0.19 during trading hours on Wednesday, reaching $42.01. The stock had a trading volume of 89,852 shares, compared to its average volume of 349,534. The firm has a 50 day simple moving average of $39.46 and a two-hundred day simple moving average of $34.23. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.12 and a beta of 0.97. Rapport Therapeutics has a 1 year low of $13.62 and a 1 year high of $44.28.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.23). Sell-side analysts forecast that Rapport Therapeutics will post -3.26 EPS for the current year.

Insiders Place Their Bets

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 271,495 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $40.12, for a total value of $10,892,379.40. Following the transaction, the insider owned 6,437,733 shares in the company, valued at $258,281,847.96. The trade was a 4.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $42.11, for a total value of $93,063.10. Following the sale, the chief executive officer directly owned 537,607 shares in the company, valued at approximately $22,638,630.77. The trade was a 0.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 430,913 shares of company stock worth $17,308,315 in the last quarter. 12.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $99,000 after buying an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rapport Therapeutics in the first quarter worth $2,039,000. Rhumbline Advisers increased its stake in shares of Rapport Therapeutics by 40.1% in the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after buying an additional 4,109 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Rapport Therapeutics by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after purchasing an additional 17,496 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Rapport Therapeutics during the second quarter worth about $121,000.

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.