Rapport Therapeutics (NASDAQ:RAPP) Stock Price Down 7.7% – Should You Sell?

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) dropped 7.7% during trading on Thursday . The company traded as low as $28.55 and last traded at $28.1770. Approximately 66,910 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 339,985 shares. The stock had previously closed at $30.54.

Wall Street Analyst Weigh In

RAPP has been the topic of a number of research reports. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. HC Wainwright raised their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Finally, BTIG Research upped their price target on shares of Rapport Therapeutics to $47.00 and gave the stock a “buy” rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.40.

Rapport Therapeutics Stock Performance

The firm has a market capitalization of $1.37 billion, a P/E ratio of -10.05 and a beta of 1.51. The business has a fifty day moving average of $28.14 and a 200-day moving average of $26.89.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Tuesday, March 10th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.07). On average, equities research analysts forecast that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current fiscal year.

Insider Activity at Rapport Therapeutics

In related news, insider David Bredt sold 8,500 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $29.02, for a total value of $246,670.00. Following the completion of the transaction, the insider owned 387,075 shares in the company, valued at $11,232,916.50. This represents a 2.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Cheryl Gault sold 2,014 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $28.93, for a total transaction of $58,265.02. Following the transaction, the chief operating officer directly owned 169,914 shares in the company, valued at approximately $4,915,612.02. The trade was a 1.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 69,669 shares of company stock worth $1,999,877. 13.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RAPP. Affinity Asset Advisors LLC acquired a new position in shares of Rapport Therapeutics in the 2nd quarter worth approximately $2,270,000. Capital International Investors lifted its stake in Rapport Therapeutics by 30.7% during the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after purchasing an additional 800,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in Rapport Therapeutics during the third quarter worth approximately $186,000. Wilmington Savings Fund Society FSB acquired a new position in Rapport Therapeutics in the third quarter worth approximately $143,000. Finally, Voya Investment Management LLC acquired a new position in Rapport Therapeutics in the third quarter worth approximately $396,000.

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.