Rapport Therapeutics (NASDAQ:RAPP) Sets New 52-Week High – Time to Buy?

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) reached a new 52-week high during trading on Tuesday . The stock traded as high as $43.34 and last traded at $43.5650, with a volume of 251378 shares trading hands. The stock had previously closed at $40.39.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RAPP shares. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Wells Fargo & Company increased their price target on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. BTIG Research lifted their price objective on Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Finally, Raymond James Financial initiated coverage on Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Rapport Therapeutics Stock Performance

The firm’s 50 day moving average is $37.33 and its 200-day moving average is $32.27. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -15.33 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.14. The firm had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. As a group, sell-side analysts forecast that Rapport Therapeutics, Inc. will post -3.25 earnings per share for the current year.

Insider Activity

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $40.32, for a total value of $17,176,521.60. Following the sale, the insider directly owned 6,709,228 shares of the company’s stock, valued at approximately $270,516,072.96. This trade represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $39.99, for a total value of $808,797.75. Following the transaction, the insider directly owned 246,426 shares of the company’s stock, valued at approximately $9,854,575.74. The trade was a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 895,158 shares of company stock valued at $35,908,941. 12.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital International Investors increased its holdings in Rapport Therapeutics by 30.7% in the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after acquiring an additional 800,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Rapport Therapeutics by 23.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock valued at $91,077,000 after purchasing an additional 579,903 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Rapport Therapeutics by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock valued at $55,151,000 after purchasing an additional 191,219 shares during the period. Baker BROS. Advisors LP grew its position in shares of Rapport Therapeutics by 181.2% in the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after purchasing an additional 997,000 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Rapport Therapeutics by 4.1% during the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock worth $13,129,000 after purchasing an additional 45,063 shares in the last quarter.

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.