Rapport Therapeutics (NASDAQ:RAPP) Shares Gap Up – Still a Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s share price gapped up before the market opened on Monday . The stock had previously closed at $35.21, but opened at $38.94. Rapport Therapeutics shares last traded at $38.3420, with a volume of 11,097 shares.

Analysts Set New Price Targets

Several analysts have weighed in on RAPP shares. BTIG Research raised their price target on Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Wells Fargo & Company lifted their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Finally, Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $58.83.

Rapport Therapeutics Stock Performance

The stock has a market capitalization of $1.84 billion, a P/E ratio of -14.80 and a beta of 0.97. The firm has a 50-day moving average price of $36.59 and a 200 day moving average price of $31.48.

Rapport Therapeutics (NASDAQ:RAPP) last issued its 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 firm had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $7.50 million. On average, equities analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rapport Therapeutics news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the sale, the insider directly owned 246,426 shares of the company’s stock, valued at $9,854,575.74. The trade was a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the sale, the insider directly owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 895,158 shares of company stock valued at $35,908,941 in the last ninety days. 12.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Baker BROS. Advisors LP increased its stake in Rapport Therapeutics by 181.2% in the 3rd 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 during the period. Vestal Point Capital LP purchased a new stake in shares of Rapport Therapeutics during the third quarter valued at approximately $28,215,000. Polar Capital Holdings Plc bought a new position in shares of Rapport Therapeutics in the third quarter worth approximately $27,887,000. Capital International Investors grew its holdings in shares of Rapport Therapeutics by 30.7% in the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after purchasing an additional 800,000 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Rapport Therapeutics by 265.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock worth $26,500,000 after buying an additional 648,378 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.