Rapport Therapeutics (NASDAQ:RAPP) Earns “Buy” Rating from BTIG Research

Rapport Therapeutics (NASDAQ:RAPP)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $65.00 price target on the stock. BTIG Research’s target price indicates a potential upside of 52.51% from the company’s current price.

A number of other brokerages have also commented on RAPP. Raymond James Financial initiated coverage on Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price target on the stock. Leerink Partners started coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price objective for the company. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Finally, Truist Financial began coverage on Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given 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 price target of $57.86.

Rapport Therapeutics Stock Up 6.2%

Shares of NASDAQ:RAPP opened at $42.62 on Thursday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -16.39 and a beta of 0.94. Rapport Therapeutics has a 12 month low of $13.62 and a 12 month high of $43.76. The company’s fifty day simple moving average is $38.42 and its 200 day simple moving average is $33.12.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. Research analysts expect that Rapport Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the sale, the insider directly owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. The trade was a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 428,703 shares of company stock worth $17,215,252. Insiders own 12.48% of the company’s stock.

Institutional Trading of Rapport Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB acquired a new stake in Rapport Therapeutics in the 4th quarter valued at about $3,434,000. Goldman Sachs Group Inc. grew its holdings in Rapport Therapeutics by 23.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock worth $91,077,000 after purchasing an additional 579,903 shares during the period. Vanguard Group Inc. increased its position in Rapport Therapeutics by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after buying an additional 191,219 shares during the last quarter. Artia Global Partners LP increased its position in Rapport Therapeutics by 114.4% during the fourth quarter. Artia Global Partners LP now owns 138,508 shares of the company’s stock worth $4,202,000 after buying an additional 73,900 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Rapport Therapeutics in the fourth quarter valued at approximately $5,423,000.

Rapport Therapeutics Company Profile

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.