Rapport Therapeutics (NASDAQ:RAPP) Sets New 12-Month High – Here’s What Happened

Rapport Therapeutics, Inc. (NASDAQ:RAPP) hit a new 52-week high during trading on Tuesday . The stock traded as high as $44.28 and last traded at $42.80, with a volume of 12085 shares. The stock had previously closed at $42.13.

Wall Street Analysts Forecast Growth

RAPP has been the topic of a number of research analyst reports. William Blair began coverage on Rapport Therapeutics in a research note on Tuesday. They issued an “outperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Raymond James Financial began coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective on the stock. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Finally, Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rapport Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Rapport Therapeutics Price Performance

The business’s 50-day moving average is $39.16 and its 200 day moving average is $33.83. The firm has a market capitalization of $1.96 billion, a P/E ratio of -15.75 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. Analysts anticipate that Rapport Therapeutics, Inc. will post -3.33 EPS for the current fiscal year.

Insider Activity at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the sale, the insider owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Abraham Ceesay sold 2,210 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $42.11, for a total value of $93,063.10. Following the transaction, the chief executive officer owned 537,607 shares in the company, valued at approximately $22,638,630.77. This trade represents a 0.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 430,913 shares of company stock valued at $17,308,315. 12.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Rapport Therapeutics by 23.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock worth $91,077,000 after acquiring an additional 579,903 shares during the period. Vanguard Group Inc. boosted its stake in shares of Rapport Therapeutics by 11.8% during 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 in the last quarter. Alliancebernstein L.P. grew its holdings in Rapport Therapeutics by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock worth $13,129,000 after acquiring an additional 45,063 shares during the last quarter. Vestal Point Capital LP grew its stake in shares of Rapport Therapeutics by 16.8% in the fourth quarter. Vestal Point Capital LP now owns 1,110,000 shares of the company’s stock worth $33,677,000 after purchasing an additional 160,000 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its position in shares of Rapport Therapeutics by 7.0% in the 4th quarter. Polar Capital Holdings Plc now owns 1,004,728 shares of the company’s stock valued at $30,483,000 after buying an additional 65,776 shares during the last quarter.

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.