Rapport Therapeutics’ (RAPP) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research report released on Wednesday morning,Benzinga reports. They currently have a $65.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. William Blair initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating on the stock. UBS Group restated a “strong-buy” rating on shares of Rapport Therapeutics in a report on Monday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $75.00 target price on shares of Rapport Therapeutics in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rapport Therapeutics currently has an average rating of “Buy” and a consensus target price of $62.86.

Rapport Therapeutics Trading Up 0.8%

RAPP stock opened at $48.24 on Wednesday. Rapport Therapeutics has a one year low of $14.11 and a one year high of $49.90. The firm has a 50-day moving average of $42.11 and a two-hundred day moving average of $36.04. The firm has a market capitalization of $2.31 billion, a PE ratio of -15.87 and a beta of 0.97.

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

Insider Buying and Selling

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of the sale, the chief executive officer owned 486,108 shares of the company’s stock, valued at $23,338,045.08. This trade represents a 5.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the transaction, the insider owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 72,685 shares of company stock valued at $3,290,052. Insiders own 12.48% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently made changes to their positions in RAPP. TRV GP V LLC acquired a new stake in Rapport Therapeutics in the second quarter valued at approximately $261,709,477,000. ARCH Venture Management LLC acquired a new position in shares of Rapport Therapeutics during the 2nd quarter worth $155,376,512,000. BlackRock Inc. acquired a new position in shares of Rapport Therapeutics during the 2nd quarter worth $112,500,000. Johnson & Johnson bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at $74,360,823,000. Finally, TRV GP VI LLC acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at $40,387,314,000.

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.