Wall Street Zen Upgrades Rapport Therapeutics (NASDAQ:RAPP) to “Hold”

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

RAPP has been the topic of several other research reports. Wells Fargo & Company set a $51.00 price target on shares of Rapport Therapeutics in a report on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $47.00 target price on shares of Rapport Therapeutics in a research note on Monday, December 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Finally, HC Wainwright raised their price target on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Rapport Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $48.33.

Rapport Therapeutics Stock Performance

RAPP opened at $26.45 on Friday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -9.76 and a beta of 1.63. Rapport Therapeutics has a one year low of $6.43 and a one year high of $42.27. The business’s fifty day moving average is $28.62 and its two-hundred day moving average is $23.92.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.06. On average, analysts predict that Rapport Therapeutics will post -3.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Abraham Ceesay sold 5,083 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.11, for a total value of $132,717.13. Following the completion of the transaction, the chief executive officer directly owned 25,812 shares in the company, valued at approximately $673,951.32. This represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Bredt sold 8,500 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $26.84, for a total value of $228,140.00. Following the transaction, the insider owned 395,575 shares in the company, valued at $10,617,233. This trade represents a 2.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 67,655 shares of company stock valued at $1,863,705. Company insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAPP. Baker BROS. Advisors LP grew its stake in Rapport Therapeutics by 181.2% during the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after buying an additional 997,000 shares during the period. Vestal Point Capital LP acquired a new position in shares of Rapport Therapeutics during the 3rd quarter valued at $28,215,000. Polar Capital Holdings Plc purchased a new stake in Rapport Therapeutics during the 3rd quarter worth $27,887,000. Capital International Investors increased its holdings in Rapport Therapeutics by 30.7% in the 3rd 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Rapport Therapeutics by 265.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock valued at $26,500,000 after purchasing an additional 648,378 shares during the period.

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.