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

Wall Street Zen cut shares of Rapport Therapeutics (NASDAQ:RAPP) from a hold rating to a sell rating in a report published on Saturday.

Several other research firms also recently weighed in on RAPP. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Thursday, January 8th. BTIG Research reaffirmed a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a report on Monday, December 8th. Citizens Jmp increased their target price on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. HC Wainwright lifted their target price on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Finally, Wells Fargo & Company assumed coverage on shares of Rapport Therapeutics in a research note on Monday, February 2nd. They set an “overweight” rating and a $43.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.00.

Rapport Therapeutics Trading Up 0.7%

Rapport Therapeutics stock opened at $27.28 on Friday. The business’s 50 day simple moving average is $28.37 and its 200 day simple moving average is $24.76. Rapport Therapeutics has a 12 month low of $6.43 and a 12 month high of $42.27. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -10.07 and a beta of 1.64.

Insider Transactions at Rapport Therapeutics

In other news, insider David Bredt sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $30.02, for a total transaction of $255,170.00. Following the transaction, the insider directly owned 392,642 shares of the company’s stock, valued at approximately $11,787,112.84. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $29.64, for a total value of $172,890.12. Following the sale, the chief executive officer owned 567,913 shares in the company, valued at $16,832,941.32. This represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 67,655 shares of company stock worth $1,863,705. 13.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after acquiring an additional 4,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Rapport Therapeutics in the first quarter worth approximately $2,039,000. Rhumbline Advisers grew its position in Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after purchasing an additional 4,109 shares during the period. TD Asset Management Inc grew its position in Rapport Therapeutics by 20.9% in the 2nd quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock worth $2,238,000 after purchasing an additional 34,052 shares during the period. Finally, Geode Capital Management LLC raised its stake in Rapport Therapeutics by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after buying an additional 17,496 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.