Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Average Rating of “Moderate Buy” by Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $57.8571.

Several analysts have recently commented on RAPP shares. William Blair initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating on the stock. Leerink Partners initiated coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price for the company. Raymond James Financial initiated coverage on Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Finally, BTIG Research reiterated a “buy” rating and set a $65.00 price target on shares of Rapport Therapeutics in a report on Wednesday.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $42.11, for a total transaction of $93,063.10. Following the completion of the sale, the chief executive officer directly owned 537,607 shares in the company, valued at $22,638,630.77. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 133,618 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $40.24, for a total transaction of $5,376,788.32. Following the completion of the sale, the insider directly owned 6,299,097 shares in the company, valued at $253,475,663.28. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 154,400 shares of company stock worth $6,213,660 in the last ninety days. 12.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV acquired a new position in Rapport Therapeutics during the first quarter worth $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics in the fourth quarter valued at $37,000. Russell Investments Group Ltd. acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at $43,000. State of Wyoming purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at $65,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 valued at $70,000 after buying an additional 905 shares during the period.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $46.35 on Friday. The firm’s 50-day moving average is $39.65 and its two-hundred day moving average is $34.48. Rapport Therapeutics has a 12 month low of $13.62 and a 12 month high of $46.72. The company has a market capitalization of $2.22 billion, a PE ratio of -15.25 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Sell-side analysts forecast that Rapport Therapeutics will post -3.26 EPS for the current year.

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.