Rapport Therapeutics (NASDAQ:RAPP) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research report report published on Monday, MarketBeat reports. The brokerage issued an overweight rating and a $43.00 price objective on the stock.

Several other brokerages have also issued reports on RAPP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Thursday, January 22nd. BTIG Research reiterated a “buy” rating and issued a $47.00 target price on shares of Rapport Therapeutics in a report on Monday, December 8th. Citizens Jmp lifted their price target on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. The Goldman Sachs Group restated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Finally, Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rapport Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Rapport Therapeutics Trading Down 3.7%

Shares of NASDAQ RAPP opened at $26.43 on Monday. The firm’s 50-day moving average price is $28.54 and its 200-day moving average price is $24.46. Rapport Therapeutics has a 1-year low of $6.43 and a 1-year high of $42.27. The firm has a market capitalization of $1.26 billion, a P/E ratio of -9.75 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.06. Equities research analysts forecast that Rapport Therapeutics will post -3.65 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Abraham Ceesay sold 5,833 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $29.64, for a total value of $172,890.12. Following the completion of the sale, the chief executive officer owned 567,913 shares in the company, valued at $16,832,941.32. This represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $30.02, for a total transaction of $255,170.00. Following the transaction, the insider directly owned 392,642 shares in the company, valued at $11,787,112.84. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,655 shares of company stock worth $1,863,705 over the last ninety days. Insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors have recently modified their holdings of RAPP. Capital International Investors lifted its holdings in 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 period. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 191,219 shares during the last quarter. Baker BROS. Advisors LP raised its stake in shares of Rapport Therapeutics by 181.2% during the 3rd 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 period. Alliancebernstein L.P. boosted its holdings in shares of 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 buying an additional 45,063 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new position in shares of Rapport Therapeutics in the 3rd quarter worth about $28,215,000.

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.