Rapport Therapeutics (NASDAQ:RAPP) Reaches New 12-Month High – Should You Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $49.90 and last traded at $49.27, with a volume of 12442 shares trading hands. The stock had previously closed at $49.01.

Analyst Ratings Changes

RAPP has been the topic of several research analyst reports. Raymond James Financial restated a “strong-buy” rating and set a $75.00 price objective on shares of Rapport Therapeutics in a research note on Monday. Truist Financial started coverage on Rapport Therapeutics in a research note on Monday, May 18th. They set a “buy” rating and a $56.00 target price on the stock. HC Wainwright upped their price target on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Leerink Partners began coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $62.86.

Rapport Therapeutics Trading Up 0.0%

The company has a market cap of $2.35 billion, a PE ratio of -16.14 and a beta of 0.97. The business’s 50-day simple moving average is $41.39 and its 200-day simple moving average is $35.65.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). On average, research analysts predict that Rapport Therapeutics, Inc. will post -4.09 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 firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the transaction, the insider directly owned 6,280,525 shares in the company, valued at $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Abraham Ceesay sold 28,958 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total value of $1,390,273.58. Following the completion of the transaction, the chief executive officer directly owned 486,108 shares in the company, valued at $23,338,045.08. The trade was a 5.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 72,281 shares of company stock worth $3,269,892 over the last three months. Company insiders own 12.48% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in RAPP. KBC Group NV bought a new stake in shares of Rapport Therapeutics in the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics during the 4th quarter worth about $37,000. Russell Investments Group Ltd. acquired a new stake in shares of Rapport Therapeutics during the third quarter worth approximately $43,000. State of Wyoming bought a new position in Rapport Therapeutics in the 2nd quarter valued at $65,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 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.