Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $58.8333.

Several equities research analysts recently commented on the company. Raymond James Financial assumed coverage on Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 target price on the stock. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Wells Fargo & Company upped their target price on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Finally, Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd.

Insider Activity at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $40.32, for a total value of $17,176,521.60. Following the transaction, the insider owned 6,709,228 shares in the company, valued at approximately $270,516,072.96. This represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the transaction, the insider owned 246,426 shares in the company, valued at approximately $9,854,575.74. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 895,158 shares of company stock worth $35,908,941. Corporate insiders own 12.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in Rapport Therapeutics by 220.7% in the first quarter. Bank of America Corp DE now owns 110,826 shares of the company’s stock worth $3,468,000 after acquiring an additional 76,273 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Rapport Therapeutics by 25.2% in the first quarter. California State Teachers Retirement System now owns 33,426 shares of the company’s stock worth $1,046,000 after acquiring an additional 6,736 shares in the last quarter. Sei Investments Co. boosted its holdings in Rapport Therapeutics by 68.7% in the first quarter. Sei Investments Co. now owns 30,819 shares of the company’s stock worth $964,000 after acquiring an additional 12,551 shares in the last quarter. Walleye Capital LLC bought a new position in Rapport Therapeutics in the first quarter worth approximately $349,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Rapport Therapeutics by 168.9% in the first quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock worth $7,025,000 after acquiring an additional 141,011 shares in the last quarter.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock opened at $38.19 on Thursday. Rapport Therapeutics has a one year low of $10.51 and a one year high of $42.27. The stock’s 50-day moving average is $36.91 and its 200 day moving average is $31.73. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -14.69 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. On average, sell-side analysts expect that Rapport Therapeutics will post -3.25 EPS for the current fiscal year.

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.