Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $58.8333.

A number of analysts have recently commented on RAPP shares. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Truist Financial started coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They issued a “buy” rating and a $56.00 price objective on the stock. BTIG Research boosted their price objective on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st.

Rapport Therapeutics Stock Down 4.2%

Shares of RAPP stock opened at $36.87 on Thursday. The company’s fifty day simple moving average is $36.68 and its 200-day simple moving average is $31.54. The firm has a market cap of $1.76 billion, a PE ratio of -14.18 and a beta of 0.97. Rapport Therapeutics has a 12 month low of $10.51 and a 12 month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. On average, equities analysts predict that Rapport Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider directly owned 246,426 shares in the company, valued at approximately $9,854,575.74. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the transaction, the insider owned 6,709,228 shares in the company, valued at approximately $270,516,072.96. The trade was a 5.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 895,158 shares of company stock worth $35,908,941. 12.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. AlphaCentric Advisors LLC increased its holdings in Rapport Therapeutics by 6.8% during the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $201,000 after buying an additional 408 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in 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 buying an additional 828 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 worth $70,000 after buying an additional 905 shares during the last quarter. KBC Group NV acquired a new position in Rapport Therapeutics during the first quarter worth $30,000. Finally, Meeder Asset Management Inc. acquired a new position in Rapport Therapeutics during the fourth quarter worth $37,000.

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.