Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $48.3333.

Several brokerages have recently issued reports on RAPP. Truist Financial started coverage on shares of Rapport Therapeutics in a research note on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price objective on the stock. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Wells Fargo & Company set a $51.00 price objective on Rapport Therapeutics in a research report on Friday, December 19th. BTIG Research reissued a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a research note on Monday, December 8th. Finally, Citizens Jmp boosted their target price on Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th.

Rapport Therapeutics Stock Up 0.2%

Shares of RAPP stock opened at $30.25 on Thursday. The stock has a 50-day simple moving average of $27.92 and a 200 day simple moving average of $21.67. The stock has a market capitalization of $1.44 billion, a P/E ratio of -11.16 and a beta of 1.63. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.06. On average, sell-side analysts anticipate that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insider Activity

In other news, CEO Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $29.63, for a total value of $150,609.29. Following the transaction, the chief executive officer directly owned 30,895 shares of the company’s stock, valued at $915,418.85. This trade represents a 14.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David Bredt sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $30.02, for a total transaction of $255,170.00. Following the completion of the sale, the insider owned 392,642 shares of the company’s stock, valued at approximately $11,787,112.84. This trade represents a 2.12% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 58,248 shares of company stock worth $1,568,766. Corporate insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RAPP. Tudor Investment Corp ET AL acquired a new stake in Rapport Therapeutics during the 3rd quarter valued at $331,000. Maven Securities LTD purchased a new position in shares of Rapport Therapeutics during the third quarter valued at $594,000. Wilmington Savings Fund Society FSB acquired a new position in Rapport Therapeutics during the third quarter valued at $143,000. Vestal Point Capital LP purchased a new stake in Rapport Therapeutics in the 3rd quarter worth about $28,215,000. Finally, Polar Capital Holdings Plc purchased a new stake in Rapport Therapeutics in the 3rd quarter worth about $27,887,000.

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.