Rapport Therapeutics (NASDAQ:RAPP) Upgraded at Truist Financial

Truist Financial upgraded shares of Rapport Therapeutics (NASDAQ:RAPP) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Finally, BTIG Research raised their target price on Rapport Therapeutics to $47.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Rapport Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $51.40.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock opened at $27.84 on Wednesday. Rapport Therapeutics has a one year low of $7.73 and a one year high of $42.27. The business’s 50 day simple moving average is $28.11 and its two-hundred day simple moving average is $27.71. The stock has a market capitalization of $1.33 billion, a P/E ratio of -9.73 and a beta of 1.51.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Tuesday, March 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.07). Sell-side analysts expect that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insider Activity at Rapport Therapeutics

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $29.02, for a total transaction of $246,670.00. Following the transaction, the insider directly owned 387,075 shares of the company’s stock, valued at approximately $11,232,916.50. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Cheryl Gault sold 2,014 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total transaction of $58,265.02. Following the completion of the transaction, the chief operating officer owned 169,914 shares of the company’s stock, valued at $4,915,612.02. This trade represents a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 50,253 shares of company stock worth $1,421,208. 13.57% of the stock is currently owned by insiders.

Institutional Trading of Rapport Therapeutics

Large investors have recently bought and sold shares of the company. Strs Ohio grew its holdings in shares of Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after acquiring an additional 400 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Rapport Therapeutics by 56.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock valued at $69,000 after purchasing an additional 828 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 shares during the period. Meeder Asset Management Inc. purchased a new stake in Rapport Therapeutics in the fourth quarter worth $37,000. Finally, Creative Planning raised its holdings in Rapport Therapeutics by 12.8% in the third quarter. Creative Planning now owns 11,959 shares of the company’s stock worth $355,000 after purchasing an additional 1,357 shares in the last quarter.

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.