Rapport Therapeutics (NASDAQ:RAPP) Trading Down 6.9% – Time to Sell?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) shares were down 6.9% during trading on Monday . The company traded as low as $27.01 and last traded at $26.9710. Approximately 90,767 shares changed hands during trading, a decline of 72% from the average daily volume of 323,098 shares. The stock had previously closed at $28.96.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citizens Jmp lifted 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. 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 report on Monday, December 8th. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rapport Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $48.33.

Rapport Therapeutics Stock Performance

The stock has a 50-day moving average of $28.31 and a 200 day moving average of $22.80. The firm has a market capitalization of $1.29 billion, a P/E ratio of -9.96 and a beta of 1.63.

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

Insider Activity

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 5,833 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $29.64, for a total value of $172,890.12. Following the completion of the transaction, the chief executive officer directly owned 567,913 shares of the company’s stock, valued at approximately $16,832,941.32. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Bredt sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $25.79, for a total transaction of $219,215.00. Following the transaction, the insider owned 409,642 shares in the company, valued at $10,564,667.18. The trade was a 2.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 67,655 shares of company stock worth $1,851,447. 13.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in Rapport Therapeutics in the third quarter worth about $43,000. Strs Ohio boosted its stake in shares of Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after purchasing an additional 400 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 shares during the period. Creative Planning bought a new stake in shares of Rapport Therapeutics during the second quarter worth approximately $121,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of Rapport Therapeutics during the second quarter worth approximately $128,000.

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.