Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Average Rating of “Moderate Buy” by Analysts

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $57.8571.

RAPP has been the subject of several research reports. BTIG Research increased their price objective on Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Leerink Partners started coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target on the stock. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial began coverage on Rapport Therapeutics in a research note on Monday, May 18th. They set a “buy” rating and a $56.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st.

Rapport Therapeutics Price Performance

RAPP opened at $41.75 on Monday. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -16.06 and a beta of 0.94. Rapport Therapeutics has a twelve month low of $13.43 and a twelve month high of $43.76. The company’s 50-day moving average price is $38.00 and its two-hundred day moving average price is $32.76.

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

Insider Transactions at Rapport Therapeutics

In other news, insider Krishnaswamy Yeleswaram sold 20,225 shares of Rapport Therapeutics stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the transaction, the insider owned 246,426 shares in the company, valued at $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of Rapport Therapeutics stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the transaction, the insider owned 6,709,228 shares of the company’s stock, valued at $270,516,072.96. The trade was a 5.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 885,133 shares of company stock valued at $35,558,387 in the last quarter. Company insiders own 12.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in shares of Rapport Therapeutics by 220.7% during the first quarter. Bank of America Corp DE now owns 110,826 shares of the company’s stock worth $3,468,000 after acquiring an additional 76,273 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Rapport Therapeutics by 25.2% in the first quarter. California State Teachers Retirement System now owns 33,426 shares of the company’s stock worth $1,046,000 after acquiring an additional 6,736 shares during the period. Sei Investments Co. grew its position in shares of Rapport Therapeutics by 68.7% in the first quarter. Sei Investments Co. now owns 30,819 shares of the company’s stock valued at $964,000 after purchasing an additional 12,551 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Rapport Therapeutics in the first quarter valued at $349,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Rapport Therapeutics by 168.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock valued at $7,025,000 after purchasing an additional 141,011 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.