Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $50.80.

RAPP has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of Rapport Therapeutics in a research note on Monday, February 2nd. They issued an “overweight” rating and a $43.00 price objective for the company. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Thursday, January 22nd. BTIG Research reiterated a “buy” rating and issued a $47.00 price target on shares of Rapport Therapeutics in a research note on Monday. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a report on Thursday, January 8th.

Rapport Therapeutics Price Performance

Shares of NASDAQ:RAPP opened at $30.54 on Tuesday. Rapport Therapeutics has a 1-year low of $7.73 and a 1-year high of $42.27. The company has a market capitalization of $1.46 billion, a P/E ratio of -11.27 and a beta of 1.50. The firm’s 50 day simple moving average is $28.16 and its two-hundred day simple moving average is $26.76.

Insiders Place Their Bets

In related news, insider Krishnaswamy Yeleswaram sold 2,840 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $30.05, for a total transaction of $85,342.00. Following the sale, the insider owned 296,991 shares of the company’s stock, valued at approximately $8,924,579.55. This trade represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Abraham Ceesay sold 5,083 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $29.36, for a total value of $149,236.88. Following the completion of the transaction, the chief executive officer directly owned 20,729 shares in the company, valued at approximately $608,603.44. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 69,669 shares of company stock worth $1,999,877. Company insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RAPP. Strs Ohio lifted its holdings in shares of Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Rapport Therapeutics by 56.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after acquiring an additional 828 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Rapport Therapeutics by 64.1% during 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 in the last quarter. Meeder Asset Management Inc. purchased a new position in Rapport Therapeutics during the fourth quarter valued at $37,000. Finally, Creative Planning increased its holdings in Rapport Therapeutics by 12.8% in the 3rd quarter. Creative Planning now owns 11,959 shares of the company’s stock valued at $355,000 after acquiring an additional 1,357 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.