Rapport Therapeutics (NASDAQ:RAPP) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Rapport Therapeutics (NASDAQ:RAPP) released its quarterly earnings data on Thursday. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.14, FiscalAI reports. The business had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million.

Rapport Therapeutics Stock Performance

Rapport Therapeutics stock traded down $1.89 during mid-day trading on Friday, reaching $38.04. 373,430 shares of the company were exchanged, compared to its average volume of 381,446. Rapport Therapeutics has a twelve month low of $7.73 and a twelve month high of $42.27. The firm’s 50-day simple moving average is $32.08 and its two-hundred day simple moving average is $29.36. The firm has a market cap of $1.82 billion, a PE ratio of -14.63 and a beta of 0.82.

Insider Transactions at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $40.32, for a total value of $17,176,521.60. Following the completion of the transaction, the insider directly owned 6,709,228 shares of the company’s stock, valued at $270,516,072.96. This trade represents a 5.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Abraham Ceesay sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $29.34, for a total value of $171,140.22. Following the completion of the transaction, the chief executive officer directly owned 556,247 shares of the company’s stock, valued at $16,320,286.98. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 487,885 shares of company stock worth $19,319,002 over the last ninety days. 13.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds have recently bought and sold shares of RAPP. Meeder Asset Management Inc. purchased a new position in Rapport Therapeutics during the fourth quarter worth $37,000. Russell Investments Group Ltd. purchased a new position in Rapport Therapeutics during the third quarter worth $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Rapport Therapeutics by 86.4% during the first 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. Creative Planning purchased a new position in Rapport Therapeutics during the second quarter worth $121,000. Finally, Bank of America Corp DE increased its position in Rapport Therapeutics by 62.5% during the second quarter. Bank of America Corp DE now owns 12,127 shares of the company’s stock worth $138,000 after buying an additional 4,666 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Finally, Wells Fargo & Company boosted their target price on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, March 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $54.83.

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.