Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $50.80.

A number of research analysts have commented on RAPP shares. The Goldman Sachs Group restated a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a 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 research note on Monday, December 8th. Finally, HC Wainwright lifted their price objective on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th.

Rapport Therapeutics Trading Up 4.0%

Shares of RAPP opened at $29.06 on Friday. The company’s 50 day simple moving average is $28.31 and its 200-day simple moving average is $25.30. The firm has a market cap of $1.38 billion, a PE ratio of -10.72 and a beta of 1.63. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $42.27.

Insider Transactions at Rapport Therapeutics

In other news, insider David Bredt sold 8,500 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $26.84, for a total transaction of $228,140.00. Following the completion of the transaction, the insider directly owned 395,575 shares of the company’s stock, valued at approximately $10,617,233. This represents a 2.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Abraham Ceesay sold 5,083 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $26.11, for a total value of $132,717.13. Following the completion of the sale, the chief executive officer directly owned 25,812 shares of the company’s stock, valued at $673,951.32. This represents a 16.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,239 shares of company stock worth $1,374,565. Company insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio boosted its holdings in Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Rapport Therapeutics by 56.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock valued at $69,000 after acquiring an additional 828 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rapport Therapeutics by 64.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after acquiring an additional 905 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Rapport Therapeutics during the 4th quarter worth approximately $37,000. Finally, Creative Planning grew its holdings in shares of Rapport Therapeutics by 12.8% in the 3rd quarter. Creative Planning now owns 11,959 shares of the company’s stock worth $355,000 after acquiring an additional 1,357 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.