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

Wall Street Zen upgraded shares of Rapport Therapeutics (NASDAQ:RAPP) from a sell rating to a hold rating in a report published on Saturday morning.

RAPP has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. BTIG Research reissued a “buy” rating and set a $53.00 price objective on shares of Rapport Therapeutics in a research note on Friday. TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Wells Fargo & Company increased their price objective on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $54.83.

Rapport Therapeutics Price Performance

Shares of NASDAQ RAPP opened at $38.04 on Friday. Rapport Therapeutics has a one year low of $7.73 and a one year high of $42.27. The firm’s 50 day simple moving average is $32.08 and its two-hundred day simple moving average is $29.36. The stock has a market capitalization of $1.82 billion, a P/E ratio of -14.63 and a beta of 0.82.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates 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. As a group, equities analysts expect that Rapport Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total value of $246,670.00. Following the completion of the sale, the insider owned 387,075 shares of the company’s stock, valued at $11,232,916.50. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Cheryl Gault sold 2,014 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total value of $58,265.02. Following the completion of the sale, the chief operating officer directly owned 169,914 shares of the company’s stock, valued at $4,915,612.02. The trade was a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 487,885 shares of company stock valued at $19,319,002 over the last three months. Insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake 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 during the period. AlphaCentric Advisors LLC lifted its stake in Rapport Therapeutics by 6.8% in the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $201,000 after acquiring an additional 408 shares during the period. KBC Group NV purchased a new stake in Rapport Therapeutics in the first quarter worth $30,000. Swiss National Bank lifted its stake in Rapport Therapeutics by 3.5% in the first quarter. Swiss National Bank now owns 56,500 shares of the company’s stock worth $1,768,000 after acquiring an additional 1,900 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Rapport Therapeutics in the first quarter worth $215,000.

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.