Rapport Therapeutics (NASDAQ:RAPP) Price Target Raised to $65.00

Rapport Therapeutics (NASDAQ:RAPP) had its target price boosted by stock analysts at BTIG Research from $53.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 81.97% from the company’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a report on Monday, March 9th. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Raymond James Financial started coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.83.

Rapport Therapeutics Price Performance

NASDAQ RAPP opened at $35.72 on Thursday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -13.74 and a beta of 0.82. The company’s fifty day moving average is $33.42 and its two-hundred day moving average is $30.01. Rapport Therapeutics has a 52-week low of $7.73 and a 52-week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. As a group, sell-side analysts expect that Rapport Therapeutics will post -3.18 earnings per share for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In other news, COO Cheryl Gault sold 2,014 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were 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 directly owned 169,914 shares of the company’s stock, valued at approximately $4,915,612.02. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the firm’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 transaction, the insider directly owned 6,709,228 shares of the company’s stock, valued at $270,516,072.96. The trade was a 5.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 878,600 shares of company stock valued at $35,223,398. Company insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in Rapport Therapeutics by 30.7% during the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after purchasing an additional 800,000 shares during the last quarter. Maven Securities LTD acquired a new position in shares of Rapport Therapeutics during the third quarter worth approximately $594,000. Baker BROS. Advisors LP lifted its position in shares of Rapport Therapeutics by 181.2% during the third 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 in the last quarter. Swedbank AB acquired a new position in shares of Rapport Therapeutics during the fourth quarter worth approximately $3,434,000. Finally, Vanguard Group Inc. lifted its position in shares of Rapport Therapeutics by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after purchasing an additional 191,219 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.