Rapport Therapeutics (NASDAQ:RAPP) Shares Gap Up – Time to Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s share price gapped up before the market opened on Monday . The stock had previously closed at $35.21, but opened at $38.94. Rapport Therapeutics shares last traded at $38.3420, with a volume of 11,097 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. BTIG Research upped their price objective on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Raymond James Financial assumed 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 objective for the company. Finally, Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.83.

Rapport Therapeutics Stock Performance

The stock’s 50-day moving average is $36.40 and its 200 day moving average is $31.35. The firm has a market cap of $1.82 billion, a P/E ratio of -14.73 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. On average, research analysts anticipate that Rapport Therapeutics, Inc. will post -3.08 EPS for the current year.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the completion of the transaction, the insider owned 246,426 shares in the company, valued at approximately $9,854,575.74. This represents a 7.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the stock in a transaction dated 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 transaction, the insider 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 position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 895,158 shares of company stock valued at $35,908,941. Corporate insiders own 12.48% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

A number of large investors have recently added to or reduced their stakes in RAPP. Baker BROS. Advisors LP increased its holdings in Rapport Therapeutics by 181.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after purchasing an additional 997,000 shares in the last quarter. Vestal Point Capital LP acquired a new position in shares of Rapport Therapeutics during the 3rd quarter worth about $28,215,000. Polar Capital Holdings Plc acquired a new position in shares of Rapport Therapeutics during the 3rd quarter worth about $27,887,000. Capital International Investors boosted its stake in shares of Rapport Therapeutics by 30.7% during the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after buying an additional 800,000 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Rapport Therapeutics by 265.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock worth $26,500,000 after buying an additional 648,378 shares during 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.