Brokerages Set Rapport Therapeutics, Inc. (NASDAQ:RAPP) PT at $62.86

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have earned an average rating of “Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $62.8571.

RAPP has been the topic of several analyst reports. BTIG Research reiterated a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a research note on Wednesday, August 19th. Truist Financial assumed coverage on Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 target price for the company. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $75.00 price target on shares of Rapport Therapeutics in a research note on Monday, August 17th. William Blair began coverage on Rapport Therapeutics in a research report on Tuesday, July 28th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th.

Insider Buying and Selling at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 18,921 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $49.57, for a total transaction of $937,913.97. Following the completion of the sale, the chief executive officer owned 467,187 shares in the company, valued at $23,158,459.59. This trade represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 73,034 shares of company stock valued at $3,484,157. 12.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

Several large investors have recently added to or reduced their stakes in RAPP. KBC Group NV acquired a new stake in shares of Rapport Therapeutics during the first quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics in the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. bought a new stake in Rapport Therapeutics during the 3rd quarter worth approximately $43,000. State of Wyoming bought a new stake in Rapport Therapeutics during the 2nd quarter worth approximately $65,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Rapport Therapeutics during the 3rd quarter worth approximately $143,000.

Rapport Therapeutics Stock Performance

Shares of Rapport Therapeutics stock opened at $45.77 on Tuesday. The firm has a market cap of $2.20 billion, a P/E ratio of -15.06 and a beta of 1.02. The firm’s 50-day simple moving average is $44.37 and its 200-day simple moving average is $37.76. Rapport Therapeutics has a twelve month low of $14.21 and a twelve month high of $52.93.

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

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.