Rapport Therapeutics (NASDAQ:RAPP) Coverage Initiated at Wells Fargo & Company

Equities researchers at Wells Fargo & Company started coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a report released on Monday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $43.00 price target on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 56.71% from the company’s previous close.

RAPP has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Thursday, January 22nd. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday, January 8th. BTIG Research restated a “buy” rating and set a $47.00 price target on shares of Rapport Therapeutics in a report on Monday, December 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Rapport Therapeutics Stock Performance

Shares of NASDAQ:RAPP opened at $27.44 on Monday. The company has a market cap of $1.31 billion, a PE ratio of -10.13 and a beta of 1.63. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $42.27. The firm has a 50 day simple moving average of $28.60 and a 200 day simple moving average of $24.45.

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

Insider Buying and Selling

In related news, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $30.02, for a total transaction of $255,170.00. Following the transaction, the insider owned 392,642 shares of the company’s stock, valued at approximately $11,787,112.84. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $172,890.12. Following the completion of the sale, the chief executive officer owned 567,913 shares of the company’s stock, valued at $16,832,941.32. This trade represents a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 67,655 shares of company stock worth $1,863,705 in the last 90 days. 13.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Large investors have recently bought and sold shares of the business. Affinity Asset Advisors LLC acquired a new stake in Rapport Therapeutics in the 2nd quarter worth approximately $2,270,000. TD Asset Management Inc raised its position in shares of Rapport Therapeutics by 20.9% in the second quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock valued at $2,238,000 after purchasing an additional 34,052 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Rapport Therapeutics in the second quarter worth $128,000. Intech Investment Management LLC bought a new stake in shares of Rapport Therapeutics during the 2nd quarter worth $130,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Rapport Therapeutics during the 3rd quarter worth $331,000.

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.