Wells Fargo & Company Increases Rapport Therapeutics (NASDAQ:RAPP) Price Target to $46.00

Rapport Therapeutics (NASDAQ:RAPP) had its target price upped by stock analysts at Wells Fargo & Company from $43.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 51.41% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. BTIG Research restated a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a research report on Monday. The Goldman Sachs Group reissued a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.40.

Rapport Therapeutics Stock Up 2.5%

Shares of Rapport Therapeutics stock traded up $0.75 on Wednesday, reaching $30.38. The company’s stock had a trading volume of 67,999 shares, compared to its average volume of 341,099. The company has a market capitalization of $1.45 billion, a P/E ratio of -11.15 and a beta of 1.51. The stock has a 50-day moving average price of $28.14 and a 200-day moving average price of $26.86. Rapport Therapeutics has a 52-week low of $7.73 and a 52-week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Tuesday, March 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). Sell-side analysts forecast that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $29.34, for a total transaction of $171,140.22. Following the sale, the chief executive officer owned 556,247 shares of the company’s stock, valued at $16,320,286.98. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Bredt sold 8,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total transaction of $246,670.00. Following the sale, the insider directly owned 387,075 shares of the company’s stock, valued at $11,232,916.50. The trade was a 2.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 69,669 shares of company stock worth $1,999,877 in the last 90 days. 13.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rapport Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Rapport Therapeutics by 69.1% in the 4th quarter. Invesco Ltd. now owns 267,120 shares of the company’s stock valued at $8,104,000 after acquiring an additional 109,136 shares during the last quarter. XTX Topco Ltd purchased a new position in Rapport Therapeutics in the 4th quarter worth approximately $396,000. Vestal Point Capital LP boosted its holdings in shares of Rapport Therapeutics by 16.8% during the 4th quarter. Vestal Point Capital LP now owns 1,110,000 shares of the company’s stock worth $33,677,000 after purchasing an additional 160,000 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Rapport Therapeutics in the fourth quarter valued at approximately $268,000. Finally, Perceptive Advisors LLC grew its position in shares of Rapport Therapeutics by 66.8% in the fourth quarter. Perceptive Advisors LLC now owns 673,923 shares of the company’s stock valued at $20,447,000 after purchasing an additional 270,000 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.