Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 8.4% – Should You Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s stock price rose 8.4% on Friday . The company traded as high as $37.58 and last traded at $38.1690. Approximately 12,922 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 333,619 shares. The stock had previously closed at $35.21.

Analyst Ratings Changes

RAPP has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. BTIG Research upped their target price on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Finally, Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.83.

Rapport Therapeutics Stock Performance

The company’s 50-day moving average is $36.40 and its 200 day moving average is $31.33. The company has a market capitalization of $1.84 billion, a PE ratio of -14.77 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.14. The firm had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $7.50 million. On average, analysts forecast that Rapport Therapeutics, Inc. will post -3.08 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the 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 approximately $251,535,026.25. This represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the sale, the insider directly owned 246,426 shares in the company, valued at $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 895,158 shares of company stock worth $35,908,941 over the last three months. 12.48% of the stock is currently owned by insiders.

Institutional Trading of Rapport Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. AlphaCentric Advisors LLC boosted its holdings in shares of Rapport Therapeutics by 6.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after acquiring an additional 408 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Rapport Therapeutics by 56.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock valued at $69,000 after acquiring an additional 828 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rapport Therapeutics by 64.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after acquiring an additional 905 shares during the last quarter. KBC Group NV purchased a new stake in shares of Rapport Therapeutics during the 1st quarter valued at about $30,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Rapport Therapeutics during the 4th quarter valued at about $37,000.

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.