Rapport Therapeutics (NASDAQ:RAPP) Rating Increased to Hold at Wall Street Zen

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

RAPP has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Rapport Therapeutics in a research report on Monday, December 8th. HC Wainwright boosted their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Wells Fargo & Company set a $51.00 target price on shares of Rapport Therapeutics in a research note on Friday, December 19th. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rapport Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $48.33.

Rapport Therapeutics Stock Performance

Shares of Rapport Therapeutics stock opened at $26.93 on Friday. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The company has a market cap of $1.28 billion, a P/E ratio of -9.94 and a beta of 1.63. The firm has a 50-day simple moving average of $28.59 and a two-hundred day simple moving average of $23.78.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.06. Equities research analysts forecast that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Activity at Rapport Therapeutics

In other news, 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 value of $172,890.12. Following the completion of the transaction, the chief executive officer owned 567,913 shares in the company, valued at approximately $16,832,941.32. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction on Monday, December 15th. The shares were sold at an average price of $30.02, for a total value of $255,170.00. Following the completion of the sale, the insider directly owned 392,642 shares of the company’s stock, valued at $11,787,112.84. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,655 shares of company stock valued at $1,863,705 in the last 90 days. 13.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics during the third quarter worth approximately $43,000. Strs Ohio raised its position in 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 purchasing an additional 400 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rapport Therapeutics during the third quarter worth $143,000. Sandia Investment Management LP bought a new stake in Rapport Therapeutics in the third quarter worth approximately $178,000. Finally, SG Americas Securities LLC acquired a new position in shares of Rapport Therapeutics during the third quarter valued at about $186,000.

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.