Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives Consensus Recommendation of “Buy” from Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has received an average rating of “Buy” from the ten research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $54.8333.

Several brokerages recently issued reports on RAPP. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st. Truist Financial upgraded Rapport Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Finally, Raymond James Financial assumed coverage on Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price objective for the company.

Insider Buying and Selling at Rapport Therapeutics

In related news, COO Cheryl Gault sold 2,014 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total transaction of $58,265.02. Following the completion of the transaction, the chief operating officer owned 169,914 shares in the company, valued at $4,915,612.02. The trade was a 1.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the transaction, the insider owned 6,709,228 shares of the company’s stock, valued at approximately $270,516,072.96. This trade represents a 5.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 487,885 shares of company stock worth $19,319,002. 13.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in Rapport Therapeutics in the 4th quarter worth about $37,000. Russell Investments Group Ltd. bought a new position in Rapport Therapeutics in the 3rd quarter worth about $43,000. Strs Ohio grew its position in Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after purchasing an additional 400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Rapport Therapeutics in the 3rd quarter worth about $143,000.

Rapport Therapeutics Stock Up 0.2%

Shares of NASDAQ:RAPP opened at $35.59 on Wednesday. Rapport Therapeutics has a fifty-two week low of $7.73 and a fifty-two week high of $42.27. The firm has a 50-day simple moving average of $31.72 and a 200 day simple moving average of $29.17. The company has a market cap of $1.70 billion, a PE ratio of -12.44 and a beta of 0.82.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.07). As a group, research analysts forecast that Rapport Therapeutics will post -3.1 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.