Rapport Therapeutics (NASDAQ:RAPP) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Rapport Therapeutics (NASDAQ:RAPP) announced its earnings results on Tuesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07), FiscalAI reports.

Rapport Therapeutics Stock Performance

Shares of RAPP stock opened at $30.54 on Tuesday. Rapport Therapeutics has a one year low of $7.73 and a one year high of $42.27. The company has a 50 day moving average price of $28.16 and a 200 day moving average price of $26.76. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -11.27 and a beta of 1.50.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RAPP shares. HC Wainwright boosted their price target on Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. BTIG Research restated a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a report on Monday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Thursday, January 8th. Finally, Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.80.

Insider Buying and Selling

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 value of $171,140.22. Following the transaction, the chief executive officer owned 556,247 shares in the company, valued at $16,320,286.98. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David Bredt sold 8,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were 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. This represents a 2.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 69,669 shares of company stock worth $1,999,877. 13.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in Rapport Therapeutics during the fourth quarter valued at about $37,000. Russell Investments Group Ltd. purchased a new position in shares of Rapport Therapeutics in the 3rd quarter worth about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after purchasing an additional 4,582 shares during the period. Creative Planning acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at about $121,000. Finally, Bank of America Corp DE grew its holdings in shares of Rapport Therapeutics by 62.5% during the 2nd quarter. Bank of America Corp DE now owns 12,127 shares of the company’s stock worth $138,000 after purchasing an additional 4,666 shares during the period.

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.