Rapport Therapeutics (NASDAQ:RAPP) Coverage Initiated at William Blair

Equities researchers at William Blair initiated coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating on the stock.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. BTIG Research reissued a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a research note on Thursday, July 16th. Leerink Partners started coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 target price on the stock. Raymond James Financial started coverage on Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 target price on the stock. Finally, Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.86.

Rapport Therapeutics Trading Up 3.6%

Rapport Therapeutics stock opened at $42.13 on Tuesday. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.20 and a beta of 0.94. The firm’s fifty day moving average price is $38.90 and its two-hundred day moving average price is $33.66. Rapport Therapeutics has a 1-year low of $13.62 and a 1-year high of $44.28.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. On average, research analysts forecast that Rapport Therapeutics will post -3.33 EPS for the current year.

Insider Transactions at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 271,495 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $40.12, for a total transaction of $10,892,379.40. Following the completion of the sale, the insider directly owned 6,437,733 shares of the company’s stock, valued at $258,281,847.96. This trade represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 428,703 shares of company stock valued at $17,215,252. 12.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in RAPP. KBC Group NV bought a new position in Rapport Therapeutics during the first quarter valued at about $30,000. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics in the fourth quarter worth about $37,000. Russell Investments Group Ltd. purchased a new position in Rapport Therapeutics in the third quarter valued at about $43,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after acquiring an additional 905 shares during the last quarter. Finally, 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 valued at $99,000 after acquiring an additional 4,582 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.