Rapport Therapeutics (NASDAQ:RAPP) Sees Strong Trading Volume – Time to Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) saw strong trading volume on Friday . 1,032,133 shares were traded during mid-day trading, an increase of 207% from the previous session’s volume of 335,783 shares.The stock last traded at $40.39 and had previously closed at $39.54.

Analyst Ratings Changes

Several research firms have recently commented on RAPP. Wells Fargo & Company increased their price target 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. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Truist Financial upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Raymond James Financial began coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.83.

Rapport Therapeutics Price Performance

The stock’s 50-day moving average is $30.33 and its 200-day moving average is $28.57. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -13.88 and a beta of 1.09.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Tuesday, March 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). Analysts predict that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Insider Activity at Rapport Therapeutics

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the stock in a transaction that occurred 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 transaction, the insider owned 387,075 shares of the company’s stock, valued at $11,232,916.50. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Cheryl Gault sold 2,014 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total transaction of $58,265.02. Following the transaction, the chief operating officer directly owned 169,914 shares in the company, valued at approximately $4,915,612.02. This represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 52,571 shares of company stock worth $1,618,757. Company insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

A number of large investors have recently bought and sold shares of RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rapport Therapeutics by 86.4% during the first 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Rapport Therapeutics during the first quarter worth approximately $2,039,000. Rhumbline Advisers raised its stake in Rapport Therapeutics by 40.1% during the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after purchasing an additional 4,109 shares during the period. Geode Capital Management LLC raised its stake in Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock worth $3,789,000 after purchasing an additional 17,496 shares during the period. Finally, Creative Planning purchased a new position in Rapport Therapeutics during the second quarter worth approximately $121,000.

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.