Rapport Therapeutics’ (RAPP) Buy Rating Reaffirmed at BTIG Research

Rapport Therapeutics (NASDAQ:RAPP)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They currently have a $65.00 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 62.78% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price objective for the company. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Finally, Truist Financial began coverage on Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rapport Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Rapport Therapeutics Stock Performance

NASDAQ RAPP opened at $39.93 on Thursday. Rapport Therapeutics has a one year low of $13.62 and a one year high of $43.76. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -15.36 and a beta of 0.94. The company’s 50-day simple moving average is $38.32 and its two-hundred day simple moving average is $32.98.

Rapport Therapeutics (NASDAQ:RAPP) last released 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 for the quarter, compared to the consensus estimate of $7.50 million. Equities analysts expect that Rapport Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the sale, the insider directly owned 6,280,525 shares of the company’s stock, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $808,797.75. Following the sale, the insider directly owned 246,426 shares in the company, valued at $9,854,575.74. This represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 874,933 shares of company stock worth $35,200,571. 12.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after purchasing an additional 4,582 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Rapport Therapeutics during the 1st quarter valued at approximately $2,039,000. Rhumbline Advisers increased its holdings in shares of Rapport Therapeutics by 40.1% during the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after purchasing an additional 4,109 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Rapport Therapeutics by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after purchasing an additional 17,496 shares during the period. Finally, Creative Planning acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $121,000.

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.