Rapport Therapeutics (NASDAQ:RAPP) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Rapport Therapeutics (NASDAQ:RAPP) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other research analysts have also recently commented on RAPP. Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target on the stock. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. BTIG Research reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Finally, 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 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.86.

Rapport Therapeutics Trading Up 3.3%

RAPP opened at $46.98 on Friday. The stock has a 50-day moving average price of $39.97 and a 200-day moving average price of $34.75. Rapport Therapeutics has a 12-month low of $13.86 and a 12-month high of $48.00. The stock has a market capitalization of $2.25 billion, a P/E ratio of -15.45 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, equities research analysts predict that Rapport Therapeutics will post -4.09 EPS for the current year.

Insider Transactions at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 2,210 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $42.11, for a total transaction of $93,063.10. Following the transaction, the chief executive officer owned 537,607 shares in the company, valued at $22,638,630.77. The trade was a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. The trade was a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 12.48% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in the business. Swedbank AB purchased a new position in shares of Rapport Therapeutics in the 4th quarter valued at approximately $3,434,000. Goldman Sachs Group Inc. boosted its position in shares of Rapport Therapeutics by 23.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock valued at $91,077,000 after purchasing an additional 579,903 shares in the last quarter. Vanguard Group Inc. grew its stake in Rapport Therapeutics by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after purchasing an additional 191,219 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Rapport Therapeutics in the first quarter worth $1,121,000. Finally, Artia Global Partners LP raised its holdings in Rapport Therapeutics by 114.4% in the fourth quarter. Artia Global Partners LP now owns 138,508 shares of the company’s stock worth $4,202,000 after purchasing an additional 73,900 shares in 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.